Los Angeles, CA – November 3, 2015 - Worldwide Business with kathy ireland® announces a feature story on Lodestone Banking, a company that is helping banks recover lost revenue through better processes.
During the segment, Kathy Ireland interviewed President and CEO of Lodestone Banking, Shahin Clark.
Shahin Clark commented on why financial institutions are losing so much revenue by stating, “Banks are run by the finance department and finance does not have the tools, techniques and reports to pinpoint where they are losing money, consequently they go after cost cuts… cost cuts can be expense and definitely FTE / employees. Also fee increases which obviously generates income but in a negative fashion. The way we do consulting is without all that.” Shahin’s answer to her experience, “I have done analysis of every department (HSBC USA) so I know how they operate and how one area affects another. Because of that knowledge we can drop these silos which are departments and look at the bank horizontally… information flows through the bank, it doesn’t just generate in one area of the bank. So by looking at the revenue through a horizontal view we find lost revenue… 50% of what we find is in core banking systems. I have to emphasize the tools, techniques and methodology that we bring into a bank to find lost revenue.”
Mark Tryniski, bank CEO says: “Lodestone added over $5 million annually, and amounts to 3% to 4% increase in earnings per share… Lodestone is highly beneficial to our shareholders…”
Shahin states, the benefits of retaining Lodestone, “increased shareholder value, no cost cuts, and when we are done with a bank we leave the bank with tools and techniques that will allow them to follow and use after we are gone, so the analysis doesn’t stop…it would become a living environment, living tools and techniques for them.” Do you have competition? “No, Lodestone owns this space.”
Tune in to see Lodestone Banking on Fox Business Network as sponsored programming on November 7, 2015 at 5:00pm ET.
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