Valley National Bank acquires Bluevine for $340M to boost AI and digital banking

Valley National Bancorp has agreed to buy Bluevine, a New Jersey-based digital banking and payments platform serving 175,000 US small businesses, for $340 million. Bluevine provides banking and payments services designed for SMBs through a digital-first approach.

The acquisition gives Valley National a ready-made small business platform and accelerates the bank's technology and AI strategy. The deal reflects broader movement among traditional banks to acquire fintech and AI-native companies to compete with digital-first competitors.