Banking and Finance

Three days of admin down to 10 minutes: the payment switch freeing up school finance teams

Trust logo

Reviewing banking arrangements is one of the practical steps schools and trusts can take to ensure every pound is managed as efficiently as possible and directed towards children's education. Here is what Our Lady of Lourdes Catholic Multi-Academy Trust gained …

One simple change and a trust earns over £100,000 a year in extra interest 

Judith Haste, Chief Financial Officer at St Edmundsbury and Ipswich Diocesan Multi Academy Trust, made up of 21 primary schools in Suffolk, explains how switching to a deposit savings platform has more than doubled its interest-generated income - bringing in …

How smarter banking earned Trinity Multi- Academy Trust £258,000 to put back into their school 

David Sheard, Group Chief Financial Officer at Trinity Multi-Academy Trust (MAT), shares how the Department for Education (DfE) approved Insignis savings platform generated over a quarter of a million pounds in just over a year – money that is now …

How Northern Education Trust transformed its banking to generate extra income of over £1 million

Diva Nair, Associate Director of Finance at Northern Education Trust, shares how a simple change to the trust's banking arrangements transformed their annual interest income from tens of thousands to more than a million pounds and explains how other schools …

Smart banking: How one trust generated nearly three teachers' worth of additional funding

Louise Davy, Chief Financial Officer at South East Essex Academy Trust (SEEAT), shares how strategic banking changes delivered around £200,000 in additional income.  We had a system that had worked well enough in the past – but recognised times were …

One question from a trustee changed everything about how we manage our finances  

Stock image depicting financial services accompanied by a quote from Shaukat Islam, CEO and Executive Headteacher, Inspire Education Community Trust, which reads: I I know change feels risky. I felt nervous too. But the DfE has approved this route. The setup is simple, the security is robust, and the returns are real."

Shaukat Islam, CEO and Executive Headteacher, Inspire Education Community Trust, Birmingham, shares how a DfE-approved savings platform transformed how the trust maximises returns on its reserves.  Like most school leaders, I'm cautious with public money. When I first heard about …