Flagstar bank says they have made a lot of progress on their transition difficulties, but there’s still work to be done. President and CEO Alessandro Dinello visted the WANE 15 Studio last week, explaining what went wrong with the website. He’s now giving a one-week update.
Thousands of people were having issues accessing their online banking accounts. Dinello said at least 75 percent of documents cases have now been resolved.
He said if you call in for help, the average wait time now is only seven seconds as opposed to to last week when some people waited hours. If you go to a branch, the lines are back to normal size.
Dinello said all the website issues have been solved. Now, they’re just working as fast as they can to contact the remaining people that need help getting their accounts established.
WANE 15 asked Dinello if they’re concerned about all the customers that closed their Flagstar accounts out of frustration. He said they were already expecting 17 percent of customers to leave them during the switch from Wells Fargo. That’s 34,000 people, but not quite that many people have actually left.
We also asked what he thought of their competitors offering incentives for people to switch banks. He said Flagstar is planning a win-back strategy for people to stay with them but wouldn’t reveal yet what it is.
“That will be focused on earning the trust of people and I want to do that by providing them great service,” he explained. “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 at firstname.lastname@example.org.