Capital One is looking to the fintech market for potential acquisition opportunities as purchase prices drop.

“As the pricing has crashed in that marketplace, we continue to watch the market carefully,” Chief Executive Richard Fairbank said during Thursday’s second-quarter earnings call, noting that when an opportunity arises for a tech acquisition, the bank is “well-suited” to provide opportunity for the talent that comes with it.

“Capital One is an ideal buyer for fintechs because we have a modern tech stack, and we build a company that feels very much like a tech company,” Fairbank said.

Meanwhile, the $440.3 billion bank remains steadfast on its digital-first strategy and technology investments, he said.

Capital One is leaning heavily into its credit card business, which reached $5.3 billion in net revenue in Q2, a 20% year-over-year increase, Fairbank said. The bank’s credit card focus carried over from Q1 when it announced it had been able to leverage more data and machine learning to build customized retail solutions.

Non-interest expenses also increased 15% YoY to $1.2 billion as the bank invested in its digital capabilities, according to the earnings supplement.

Similarly, Fifth Third Bank increased its technology and communications spending in Q2 by 4% to $98 million, according to the earnings release. However, the $207 billion bank’s total non-interest expenses fell 4% YoY to $1.1 billion as compensation and benefits spending decreased, offset by the increase in technology spending.

Still, Capital One plans to continue modernizing its technology while keeping a watchful eye on the acquisition market, Fairbank said, adding the bank will maintain its efforts to “build primary banking relationships that are digital first and digitally oriented.”

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