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Finextra<\/a> covered the recent \u201cFinTech Co-operation Agreement\u201d signed between Singapore and Lithuania. The Money Authority of Singapore (MAS) and the Bank of Lithuania initiated the agreement to improve regulatory collaboration and access to resources for Fintech\u2019s in both countries.<\/p>\n * * *<\/p>\n The Independent<\/a> discussed the Fintech Revolut, initially known for their foreign currency transfers, have now introduced a \u2018Disposable virtual card\u2019. Which can be created in seconds and have their details automatically regenerated after every transaction. The Co-founder & CTO, Vlad Yatsenko, had this to say:<\/p>\n “It will take approximately 800 years before we begin to run out of 16-digit card numbers, so we view disposable virtual cards as a sustainable, long-term solution to tackling online card fraud<\/em>“.<\/p>\n * * *<\/p>\n Let\u2019s face it, it\u2019s no secret that banks are under pressure to catch up with Fintech\u2019s ability to innovate and iterate at lightning speed. Finextra<\/a> explored the factors that are holding the banks back:<\/p>\n \u201cWith an acute skills shortage for support and maintenance of legacy system, and inability to adapt these systems to counter the threat of FinTech challengers, failure to modernise now is a decision with existential ramifications. Kicking the can down the road is now the riskiest option.<\/em>\u201d<\/p>\n * * *<\/p>\n Similar to the agreement discussed between Singapore and Lithuania, ZDNet<\/a> covered the UK \u2013 Australia FinTech Bridge agreement signed in London recently. The Australian Treasurer, Scott Morrison, had this to say:<\/p>\n “We will work to identify emerging trends, share policy developments, and position firms for the challenges of entering a foreign market,”, “It will provide exciting new opportunities for trade and investment into the future, in an ever-increasingly digital world where innovation and competitive edge are paramount.<\/em>\u201d<\/p>\n We\u2019re interested to see what difference (if any) these agreements will make over the coming years.<\/p>\n * * *<\/p>\n CNBC<\/a> reports Latvia\u2019s vow to improve the regulatory climate of its banking sector. This has arisen amid concerns that Latvian banks have not complied with sanctions imposed on North Korea, not to mention accusations of money laundering and terrorist financing. They continue:<\/p>\n \u201cThe problems for Latvia’s financial sector have been amplified by an anti-corruption investigation into the country’s central bank governor, who is barred from his duties both at home and at the European Central Bank.<\/em>\u201d<\/p>\n * * *<\/p>\n