AICTech1h ago
Valley National Bancorp agrees to acquire New Jersey-based Bluevine
Valley National Bancorp agrees to acquire New Jersey-based Bluevine, which provides digital banking and payments services for 175K SMBs in the US, for $340M
TL;DRTraditional bank buys fintech serving 175K small businesses for $340M.
Why it matters: Banks are consolidating SMB digital banking talent and tech to compete with pure-play fintechs.
The acquisition will give the bank a digital small business platform while accelerating its technology and AI strategy.
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