The financial services firm has teamed with VC firm Nest for a Singapore-based fintech incubator called The Open Vault.

Singapore-based bank OCBC has opened a financial technology incubator called The Open Vault at OCBC, in association with Hong Kong-based venture capital firm Nest.

Applications opened on February 1 and will close on March 17, and up to eight startups will be selected to join a 12-week, mentor-driven program which kicks off in May 2016 in a bid to find the next generation of fintech successes.

OCBC has not disclosed whether it plans to fund the startups, but it will…