U.S. banking industry

U.S. regional bank Valley National has agreed to buy Israeli fintech Bluevine for $340 million. The deal gives the bank a digital small business lending platform and is expected to accelerate its technology and artificial intelligence strategy. Industry commentators are watching it as another sign of traditional banks buying fintech capabilities rather than building them in-house.

The Federal Reserve Bank of St. Louis has released a banking analytics review of U.S. banking industry performance in the second quarter. The analysis examines how American banks fared over the quarter. Interest in the report reflects ongoing attention to the health of the U.S. financial sector.