FinQuest Coopetition 2026 is an interdisciplinary innovation challenge empowering students, emerging professionals, and innovation enthusiasts to create impactful solutions for the future of financial services. Through exclusive guided workshops, mentoring, and hands-on prototyping, participants will work in teams to develop innovative, sustainable, and human-centered ideas aligned with the European Union’s financial policy goals.

The Coopetition is Organized by the Baltic Finance Centre of Riga Technical University (RTU) Riga Business School in collaboration with RTU Design Factory.

Challenges

Applicants must select one of the three challenge areas:

  1. TWINO Challenge: Turning savers into investors
  2. INDEXO Challenge: Turning voluntary saving for retirement into ‘mission possible’
  3. VISA Challenge: Combating Fraud and Scams in the Age of AI

Participation

  • Apply via the registration form, select a challenge, and briefly describe your idea.
  • Team size: 3–5 pers. (Individuals also may apply but must form a team by the end of Prototyping Day)
  • Participants with any background and from any country are welcome (except Russia and Belarus).
  • Teams must attend the full event and follow the regulations.
  • All sessions take place in person at RTU, Ķīpsalas iela 6A, Riga (The Moon) from 16:00–19:00

Evaluation & Awards

  • Teams will present a prototype or concept in a 3-minute pitch + Q&A.
  • One winning team will be selected per challenge category based on relevance, innovation, feasibility, progress, and presentation quality.
  • Award eligibility: 2/3 of team members must attend 80%+ of activities and present the final pitch.

Prize Fund

  • EUR 6,000 total— EUR 2,000 for each challenge winner
  • Additional RTU Design Factory Award for outstanding collaboration

Important Notes

  • Registration closes on March 16, 2026, at 23:59 (EEST). UPDATE! Application deadline for INDEXO challenge extended till March 19, 23:59 (EEST)!
  • Any information shared publicly during the event is treated as public knowledge.
  • The working language of the Coopetition is English.

Event Schedule

March 16

Application Deadline

April 9

Opening/ Ideation Day: Kick-off, team cohesion, challenge introduction, idea generation, and validation.

April 13

Prototyping Day: Practical prototyping and technical mentoring, including AI-based solutions.

April 21

Viability Day: Workshops on business strategy, value proposition, customer discovery, and market validation.

April 27

Validation Day: Solution validation & pitch training – storytelling, and presentation preparation. Up to 15 teams selected for Final.

May 11

Final Day: Team pitches, jury evaluation, Q&A, and award ceremony.

Choose your challenge

Turning Savers into Investors

The Problem:

Although European households hold trillions of euros, the EU, including Latvia, faces a significant investment gap. Instead of channelling these funds into productive investments with higher returns, they sit in current and savings accounts being eroded by inflation.

The Challenge:

Design a solution that empowers savers to expand their investment choice set to include a wider range of investment options and providers beyond the traditional current and savings accounts.

Full description…

Challenge Owner

Turning voluntary saving for retirement into “mission possible”

The Problem:

Voluntary pension savings are persistently low, leaving many households underprepared for retirement. Participation in the third pillar (voluntary) pensions remains limited despite tax incentives and long-term benefits.

The Challenge:

Design a solution that motivates and enables people to actively save into their third pillar pension.

Full descritpion…

Challenge Owner

Combating Fraud and Scams in the Age of AI

The Problem:

Financial fraud and scams in Europe are accelerating rapidly and have reached critical levels as AI-powered techniques increasingly exploit digital channels and human trust across borders.

The Challenge:

Design a solution that helps to protect people and organizations from AI-powered financial fraud and scams.

Full description…

Challenge Owner

What we expect from teams

About the solution

Teams are invited to design any type of solution that helps take concrete steps towards solving the problem. We intentionally do not prescribe a specific format or business model to encourage broad and creative thinking.

Depending on your chosen challenge, your solution may take many forms, including but not limited to:

  • Digital platforms or ecosystems;
  • Mobile or web applications;
  • Standalone tools or features;
  • Onboarding, verification, or decision-support journeys;
  • Comparison, discovery, or recommendation mechanisms;
  • Counterparty, offer, or transaction validation mechanisms;
  • Digital learning solutions;
  • Hybrid solutions combining various formats.

Solutions can differ by target user and delivery model: they may be consumer-facing or B2B-oriented, and either embedded within existing services or offered as standalone concepts. Both early-stage ideas and more developed prototypes are welcome.

Success criteria

  • Relevance & Impact: How well does the solution address the challenge?
  • Innovation & Creativity: How original and innovative is the solution compared to existing approaches?
  • Feasibility: How realistic and technically achievable is the solution with current resources, knowledge, and technology?
  • Viability: How likely is the solution to succeed in the market and deliver value to customers or stakeholders?
  • Presentation & Communication: How effectively the team conveys its idea during the pitch.

Regulation

Teams are not expected to analyse regulatory frameworks, licensing requirements, or legal barriers in detail. The focus should be on solving the problem, even if it is unclear how the solution may fit under the current regulations.

For any questions, please contact: mara.robezniece[at]rbs.lv