Flagstar Bank: One Week Later


DIFFICULTIES, BUT THERE’S STILL WORK TO BE DONE. GOOD EVENING, I’M TERRA BRANTLEY. AND, I’M DIRK ROWLEY. CEO ALESSANDRO DINELLO WAS HERE AT THE WANE 15 STUDIO EXACTLY A WEEK AGO, EXPLAINING WHAT WENT WRONG WITH THE WEBSITE. TODAY, HE GAVE US AN UPDATE. WANE 15’S KAITOR KAY CONTINUES OUR COVERAGE AS YOU SAID, THERE’S STILL WORK TO BE DONE. DURING LAST WEEKS SWITCH FROM WELLS FARGO, THOUSANDS OF PEOPLE WERE HAVING ISSUES ACCESSING THEIR ONLINE BANKING BANKING ACCOUNTS. DINELLO SAYS AT LEAST 75 PERCENT OF DOCUMENTED CASES HAVE NOW BEEN RESOLVED. WEBSITE FIXED, CUSTOMER SERVICE CALL TIMES SHORTENED, AND IN-PERSON BRANCH LINES BACK TO NORMAL. WITH 75 PERCENT OF FLAGSTAR BANK CUSTOMERS HAVING REGAINED ACCESS TO ONLINE BANKING, CEO ALESSANDRO DINELLO SAYS THEY’RE ON TRACK. “SO EVERY METRIC WE CAN MEASURE HAS MOVED IN A VERY POSITIVE FASHION OVER THE LAST WEEK.” WE ASKED DINELLO IF THEY’RE CONCERNED ABOUT ALL THE CUSTOMERS THAT CLOSED THEIR FLAGSTAR ACCOUNTS OUT OF FRUSTRATION. “WE ANTICIPATED THAT 17 PERCENT OF THE CUSTOMER BASE WOULD LEAVE.” THAT’S 34,000 PEOPLE, BUT NOT QUITE THAT MUCH HAVE LEFT. WE ALSO ASKED WHAT HE THOUGHT OF THEIR COMPETITORS OFFERING INCENTIVES FOR PEOPLE TO SWITCH BANKS. “ANY TIME A BANK BUYS ANOTHER BANK’S BRANCHES, YOU WILL HAVE THOSE OFFERS. WE HAVE DONE IT OURSELVES IN THE PAST. SO I’M NOT SURPRISED AT THAT” HE SAYS FLAGSTAR IS PLANNING A WINBACK STRATEGY TO GET PEOPLE TO STAY WITH THEM, BUT WOULDN’T REVEAL YET WHAT IT IS. “I WANT TO DO THAT BY PROVIDING THEM GREAT SERVICE AND OVER TIME I’M CONFIDENT THAT WHATEVER NEGATIVE IMPLICATIONS THERE ARE TO THE FLAGSTAR BRAND TODAY, THAT WE’LL OVERCOME THAT AND WE’LL BE A STRONGER COMPANY BECAUSE WE WENT THROUGH A PRETTY DIFFICULT SITUATION.” DINELLO SAYS ANYONE THAT’S STILL HAVING PROBLEMS CAN EMAIL HIM PERSONALLY. FOR HIS EMAIL, FIND THIS STORY ON WANE DOT COM. IN STUDIO, KAITOR KAY WANE 15 NEWS.

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