ATLANTA, April 19, 2007 (PRIME NEWSWIRE) -- Flagstar Bank has selected Harland to fuel its retail banking operations growth strategy by implementing HarlandPassport(r), Harland's innovative onboarding solution.
With new bank customers leaving most banks at more than twice the rate of established customers, HarlandPassport gives Flagstar a disciplined approach to ensuring that its new customers understand how important they are to the bank.
HarlandPassport, which follows each new accountholder for one year, improves retention through a series of well-timed contacts such as personalized welcome letters, customer surveys and direct marketing - each designed to engage the customer and cement the relationship with useful products and helpful services. Harland's integrated capabilities and automated processes, triggered by the initial check order, free banks from the need to manage these services in-house or through multiple providers.
According to Marc Ruggiano, senior vice president of marketing for Harland Printed Products, ensuring that new accountholders have more than one product with their financial institution is a proven component in creating long-term relationships. "We can show our clients how valuable onboarding is to them financially before they sign on for HarlandPassport," he said. "We are extremely proud of Flagstar's results and its real world example of how new-customer care is a win/win strategy."
"It's very important that our customers feel comfortable with Flagstar as their financial services provider," said Alessandro P. DiNello, executive vice president of Retail Banking for Flagstar Bank. "We want them to know -- and to know quickly -- just how pleased we are to have them as customers. HarlandPassport allows us to quickly communicate important messages to new customers and begin building solid relationships with them."
Flagstar has a long-standing partnership with Harland. Along with taking advantage of Harland's onboarding solution, Flagstar leverages Harland to provide check solutions to its customers. In fact, the check solution is an integral component of the overall new customer experience. Once customers have been onboarded, Flagstar Bank taps into Harland's unique and innovative business intelligence solution, Stratics(tm), to deliver the most appropriate cross-sell offers to Flagstar's retail banking customers.
About Flagstar Bank
Flagstar Bancorp, with $15.5 billion in total assets, is the largest publicly held savings bank headquartered in the Midwest. Flagstar Bank had 151 retail banking branches as of Dec. 31, 2006, as compared to 137 branches as of Dec. 31, 2005 -- an increase of 10.2 percent. At year-end 2006, the Bank had 13 branches in Georgia, an increase of 160 percent as compared to five branches as of Dec. 31, 2005. Flagstar currently plans to open 13 branches during 2007, seven in Georgia.
About Harland
Atlanta-based John H. Harland Company (NYSE:JH) (http://www.harland.com) is a leading provider of software and printed products to the financial and educational markets. Harland Financial Solutions, Inc. (http://www.harlandfinancialsolutions.com), a wholly owned subsidiary, supplies software and services, including customer relationship management, deposit and loan origination, core systems and mortgage services to thousands of financial institutions of all sizes. Harland's Printed Products' offerings include checks, direct marketing materials and financial forms. Scantron Corporation (http://www.scantron.com), a wholly owned subsidiary, is a leading provider of both paper and electronic-based services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
Risk Factors
This press release contains statements, which may constitute "forward-looking statements." These statements include statements regarding the intent, belief or current expectations of John H. Harland Company and members of its respective management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Reference is made to the Risk Factors and Cautionary Statements in Harland's Form 10-K and Form 10-Q filed under the Securities Exchange Act.