Interest rates have taken a beating in recent years. Unless you have a large deposit or are willing to lock up funds for a year or more, you’re lucky to get a fraction of a percent.
Not much growth potential there, I’m afraid.
Banks pay interest on the money they make lending your deposits. Generally, only the wealthy enjoy the best rates, since they can deposit larger amounts and for longer periods of time.
But thanks to blockchain, all that’s going to change.
Our technology strips out inefficiency, and consequently, time and expense, from a centuries-old financial system. You don’t need $1,000s to burn nor do you need to lock your money away for years to achieve healthy growth.
Instead, our lean, agile business model means you can earn up to 40x higher more interest than a typical bank account.
Here’s how we do it.
Our operational costs are low
Banks tend to be huge, complex entities with an expansive physical presence designed to elicit trust and convey reliability. But keeping up appearances ain’t cheap. They need buildings, staff, telephony, servers, hardware, software licenses, call centers, ATM networks, and a bunch of other expensive stuff.
Technology has rendered much of this sprawling system redundant. Nowadays, you can save with nothing but a smartphone, and blockchain has removed the need for trust and intermediaries. Nevertheless, this hangover from banking’s gilded age persists — and guess who pays for it? You, through poor returns.
At Constant, we don’t need such a dominating physical presence. We’ve replaced cashiers with code, analysts with algorithms, and bankers with blockchain.
Blockchain technology allows us to do (almost) everything a bank can do while offering a superior customer experience and rewarding interest rates.
We’re agile and efficient
Banks are generally hierarchical, inflexible beasts that don’t cope well with change. Legacy technology and processes have created layers of complexity, making them slow to adapt to market changes.
Many top-tier banks, including HSBC and Morgan Stanley, still use IBM mainframes that cost up to $300 million per year in maintenance. These systems use outdated programming languages like COBOL that don’t play well with other systems.
This has forced financial institutions to tack new, efficient systems on top of the old, using intermediary software to communicate between the two. The result is an expensive, convoluted mess.
Banks are also hobbled by bureaucracy. With top-down management structures, sprawling branch networks, and isolated divisions, it can take ages to get anything done.
Feedback from customers or employees can get lost before reaching the right person’s ear. Even then, once someone has approved a new process or technology, it usually takes months of testing across multiple systems before anything goes live.
We value our flat business structure because it allows us to adapt to change fast. If our customers suggest a better way of doing something, we listen and act on that feedback immediately. We’re a cooperative organization — we don’t need sign-off at multiple levels to add a new feature.
And we don’t rely on hardware from the disco era, instead using purpose-built tech designed and engineered by us to be flexible, scalable, and interoperable.
We pass our efficiency savings to you
Constant is lean, agile, and super efficient. You get better interest rates because we pass those efficiency savings to you.
Forget savings accounts that pay a pittance. Forget betting your savings on high-risk stock. With us, there’s a middle ground where your money works for you, rewarding you with growth without exposing you to risk.
So, open a Constant Savings Plan for a period that suits you and watch your money grow.
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