The challenge is an initiative which encourages secondary schools across Northern Ireland to open and run their own bank for a year. In each participating school, a team of six student ‘bankers’ adopt specific Bank roles and are tasked with running their own business designed to encourage classmates to explore new ways to bank and save. Students are judged on their overall business plan and their effective use of technology, customer engagement and marketing strategies.
The School Bank Challenge is a really positive experience for students, teachers and First Trust Bank staff who work continuously with schools throughout the year to develop their business ideas. The challenge develops students’ skill sets and gives them an important insight into running a business. During the year, they consider all aspects, from shaping their business plan to delivering their marketing strategy, budgeting, customer recruitment and retention.
The Bank of Royals were the youngest team competing in this year’s competition and one of only eight teams out of 33 from the Northern heat to be selected for the National Final which was held in the RDS, Dublin on the 25th April. The judges commented on their excellent overall team performance and fundraising efforts raising in excess of £2000 for Horizon West Children’s Hospice.