Media Release January 12th, 2004
Flagstar Bank Selects Quadstone's Business Analytics Software To Manage Customer Relationships, Risks
Quadstone System Helps Bank Understand Customer Needs, Consolidate Data and Target Products
Boston, Mass. - January 12th, 2004 - Quadstone, the leading provider of customer analysis software for businesses, today announced a major new client — Flagstar Bancorp, (NYSE: FBC). Headquartered in Troy, Mich., Flagstar is the largest independent banking institution in the state and one of the nation's leading mortgage lenders.
The agreement will enable Flagstar's business managers and analysts to make better and more informed decisions about marketing and risk management.
“Quadstone helps us offer the right products to the right customers at the right time,” said Steve Brooks, senior vice president, Flagstar Bancorp. “It makes it possible to pull together large volumes of data from across the bank, analyze it and use it to develop highly targeted products and services.”
Brooks also said that Quadstone's robust querying and predictive analytics help the company reduce credit risk and estimate portfolio performance.
“Our relationship with Flagstar demonstrates how the Quadstone System can add value to a large organization with diverse customer data sources and integrate easily with existing customer relationship management systems,” said Mark Smith, founder and president of Quadstone.