This article was written by Lucy O’Boyle, Head of Content at Insignis.
Company: Trinity Multi-Academy Trust
Schools: 11 (4 primary, 6 secondary, 1 post-sixteen)
Local authorities: 5
Results with Insignis:
“We’ve realised in the region of £250,000 which has been a huge, positive benefit to the central MAT budget,” David Sheard, CFO, Trinity MAT.
Trinity MAT is a multi-academy trust with 11 schools across five local authorities. With that came eleven bank separate banks accounts and a disparate view of the Trust’s overall cash position. Deborah Allen, Managing Accountant explained:
“Everything was quite devolved at Academy level…we had eleven bank accounts, and it was difficult because you’re doing [cash management] eleven times over.”
This, combined with tightening budgets and an increased focus of efficiency, led CFO David Sheard to think about how the trust could better use its funds and get better returns on its cash:
“Managing cash balances and reserves is vital…The challenge was to make sure we utilise the funds as much as possible in the short as well as medium to long term,” he said.
With Insignis, Trinity MAT can manage accounts for all eleven schools through a single application. This has simplified managing cash at Academy level for Deborah and team:
“Going from eleven separate accounts to then channelling it centrally, in a cash pooling scenario, let’s us look at our whole cash management strategy.”
There is also a level of flexibility they didn’t have before:
“We’ve gone from ringing a treasury department in London, to looking in the platform. And everything you do in there is two-factor authentication…so it’s a very layered approach.”
Within the Insignis platform, Trinity MAT also has access to a wide selection of competitive savings accounts from 35+ carefully chosen banks and building societies including 15+ investment-grade banks. This has allowed them to increase returns on both long and short-term cash.
For example, the Trust has 20 days to utilise its government funding before payroll. With Insignis Trinity MAT can get more from these funds and increase return on long-term holdings too.
The results have been transformational, with Trinity earning over £250,000 in interest since April 2025. David Sheard said:
“We’ve enhanced the interest we’re able to gain and utilise three-fold from where we were previously. And it makes such a big impact to challenging academy budgets.”
This is cash has allowed Trinity to reinvest money back into their schools, with offerings expended by the additional interest they’ve earned:
“We’ve had children from our primary schools learn how to cook, offered trips funded by the central pot of money, and we assist our scholars programme to help future medics at our academy to attend Oxford and Cambridge,” David added.
“When you start using it, you’ll wonder why it’s taken so long to use it.” David Sheard
David explained that the education sector is inherently risk averse, and that many believe their funds are safer with a high-street bank.
However, since moving to Insignis, Trinity has been able to spread their risk across accounts, with the backing of its audit committee and board of trustees:
“Spreading that risk has been a real benefit. Do your due diligence and when you see that interest coming in, you’ll wish you’d done it sooner.”
Insignis is the only savings platform approved by the DfE. Today, we help over 500 schools to increase returns on their cash.
Get in touch to find out how you can turn your school’s reserves into resources.
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