July 3, 2024

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In the digital age, financial institutions find themselves sitting on a goldmine of data — a treasure trove with the potential to revolutionize the way they operate. From understanding consumer spending habits to predicting financial needs, institutions want to leverage that data to drive success in an ever-evolving industry. Before delving into the multiple ways

Relationship profitability is an important metric within most pricing models. While it is important to understand the profitability impact of individual new loans, it is crucial to understand how the pricing decision on a new credit will impact the profitability of the entire customer relationship. These relationships often include deposit accounts. Analysis of time deposits

When most banks established their retirement plan for their employees, they thought about the benefit that the plan will bring to those who work for the bank. They didn’t always consider the extent to which these benefits come with a cost. Of course, they know that plans cost money: not only do employees place their

Even the most responsible driver can be caught unaware by an accident if they fail to check their blind spots when operating a vehicle. Technology like lane assist features can help, but may also create risk when people become too reliant on it. The same is true when it comes to cybersecurity. A company’s cybersecurity

Check use has declined for years as consumers gravitate toward faster, more digital transactions. Yet despite the slow and steady phasing out of checks, the financial sector has seen a recent uptick in check fraud. FinCEN reported 680,000 instances of known check fraud in 2022, and those trends continued into 2023, with experts estimating a

On April 23, 2024, the Federal Trade Commission (FTC) voted to finalize its proposed rule, making it an unfair method of competition, and therefore a violation of the Federal Trade Commission Act (FTC Act), for any person to enter into a non-compete clause with a worker, attempt to enforce an existing non‑compete clause with a

What impact would a tornado have on your bank? How about a processor outage? Do you know how long your customers would be blocked from completing transactions? Or how much revenue your bank might lose? Knowing the answers to these questions can help your organization prepare for and respond to the unexpected. Organizations typically codify

Finding the right price for a customer’s deposits or loans can be a difficult balance. Relationship pricing involves looking at your customer’s entire relationship of loans, deposits, fee income and other products to determine the customer’s overall profitability and using this information to make strategic decisions on pricing for renewals or new products. This pricing

Zackary Statler South Market President, United Bank Zack Statler, originally from Hurricane, West Virginia, began his career trajectory in mining before shifting gears to banking and finance upon graduating from West Virginia University in 2014. Joining United Bank in 2015 as a commercial loans operations specialist in Dunbar, Zack quickly demonstrated a knack for financial