Standard Chartered has officially open its eXellerator facility, a center designed to promote the innovation of fintech, in Hong Kong, the bank announced today.

The bank will operate the innovation center under its SC Ventures arm, which invests in emerging fintechs and other startups. The eXellerator, designed by co-working space company WeWork, is a space where such startups and other tech firms can more closely focus on new technologies and solutions, according to today’s press release.

The innovation center will focus on such areas as data science, cybersecurity, and artificial intelligence.

Mary Huen, CEO for Standard Chartered in Hong Kong, said in today’s release:

As clients become more digital and expect more seamless, timely and user-friendly access to banking services, we need to constantly innovate and improve, or risk being left behind.

Its Hong Kong center is the second innovation center the bank has opened in Asia, after its Singapore-based center launched in 2016. With headquarters in London as well as Hong Kong, Standard Chartered currently operates about $663.5 billion in assets.

Read more at BankingTech and Finextra.