This paper investigates the application of filter bank multicarrier modulation based on the OQAM (FBMC/OQAM) to multiple-input-multiple-output (MIMO) systems. Existing solutions guarantee satisfactory performance when the streams multiplexed on each subcarrier (S) and the number of transmit (NT ) and receive (NR) antennas are related as S = min (NT , NR). When S < min (NT , NR), the techniques presented in previous works either exhibit an error floor or perform much worse than orthogonal frequency division multiplexing (OFDM). To make progress towards the combination of FBMC/OQAM with MIMO we propose a two-step approach and a coordinated beamforming algorithm to design the transmit and the receive processing. Numerical results show that the two-step method provides similar bit error rate (BER) as OFDM when S + 1 = NT = NR. Resorting to the coordinated beamforming solution, which is based on an iterative method, the application of FBMC/OQAM is extended to the general case S < min (NT , NR). Hence, the techniques presented in this paper demonstrate that FBMC/OQAM can achieve practically the same BER as OFDM with an increased spectral efficiency and a significantly decreased out-of-band radiation, which is an important advantage for non-contiguous spectrum allocations.