As Pol explains,
“Today 90% of the world’s money is digital. Traditionally banks made money by taking a portion of the profit on each side of their transactions in the form of fees. For example, when a bank makes a personal loan, they take a fee from the borrower (credit application fee) and from their customer who deposited the money (monthly service fee). This revenue model allowed banks to ‘skim’ money from both its clients and customers which resulted in large revenue streams and big profits.”
This also meant that banks were able to decide which clients and customers received the best deals based on the volume of business (money) generated for the bank. This meant that those with the most wealth were given the best interest rates and deal terms as well as access to exclusive products and services. Their business model relies on volume to create value. But banking remains a losing game for the rest of the 98%.
At Rand, we believe everyone should have the opportunity to easily grow their money. If it’s not for everyone, it’s not for us. Our business model is not based on service fees, making money at your expense, or by offering products based on the value of your wealth. We built a win-win revenue-sharing model, which means we only win when you do.
We share our revenues with our users in the form of higher interest rate Earn accounts and Prize accounts where you can win big every week. We want to give everyone the opportunity to grow their wealth using smarter financial tools.
We build market-leading investment strategies which we test and then automate to generate higher returns than traditional banks, and we share these returns with our users and prize winners to put the power and profits where they belong, in your pocket.
Rand is the first people-powered bank for the change-makers, dreamers and doers ready to take control of their financial future by offering 70x more earnings, hyper-growth investment options and simple spend and send choices. Because someone needed to change things up, and why not us? Rand brings your $$$ to the max.