19 July 2024
Alliance Bank Expands AEIOU Challenge Financial Education to 25,000 Schoolchildren
Press Release
Kuala Lumpur, 19 July 2024 - Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) today launched the seventh edition of its AEIOU Challenge, an award-winning financial education initiative recognised by Bank Negara Malaysia. Designed to educate schoolchildren aged 9 to 12 on the importance of having good money management in a fun and engaging manner, the AEIOU Challenge will expand its reach this year to approximately 25,000 schoolchildren, representing almost 30% increase from the previous iteration.
In this year’s AEIOU Challenge, Alliance Bank introduces the theme “Spot the Scams: Be a Financial Superhero!”, underscoring the crucial role of financial knowledge in navigating today’s digital landscape and equipping young individuals with the skills to identify and avoid financial scams. The campaign provides essential financial education and comprises two main components, namely the AEIOU Comic Challenge (“Comic Challenge”) and AEIOU Financial e-Game Challenge (“e-Game Challenge”) structured in three modules – Save, Plan, Spend. The Comic Challenge allows participants to creatively explore financial concepts, transforming education into an imaginative experience, while the e-Game Challenge teaches financial skills in a dynamic and interactive digital format.
Since its launch in 2015, the AEIOU Challenge has benefitted 140,000 children nationwide and received over 130,000 submissions for the Comic Challenge and e-Game Challenge. Over 1,300 teachers have been empowered to conduct financial literacy workshops at their respective schools. Overall, the challenge has reached out to more than 1,000 schools.
The AEIOU Challenge offers comprehensive guidance through online or physical AEIOU roadshows to guide participants on comic creation while embedding financial education. School teachers will also undergo online briefings via the Train-the-Trainers programme, thus enabling them to guide their students and encourage participation in the AEIOU Challenge.
At the same time, the financial education videos and comic strips are made easily accessible via the AEIOU Mobile app, enabling continuous learning even after the AEIOU Challenge has concluded in support of the Ministry of Education's 2027 School Curriculum framework which promotes lifelong education.
“In line with our goal of becoming The Bank For Life, we align our initiatives with the government’s efforts in raising awareness and support the nation’s aspiration to improve Malaysians’ financial well-being. The AEIOU Challenge is integral to our commitment and ongoing efforts to help Malaysians enhance financial literacy by providing schoolchildren with a platform to learn smart money management. With the rise in financial scams facilitated by technology, it is more vital than ever for young people to grasp financial concepts and be equipped with sound financial knowledge from an early age. This knowledge will not only help safeguard them from scams, but also empower them to make informed financial decisions as they transition into adulthood,” said Mr Kellee Kam, Group Chief Executive Officer of Alliance Bank.
Joining Alliance Bank in empowering Malaysian children with financial literacy are strategic partners for this campaign; PlayMobil Metapark and Faber-Castell, the world's leading manufacturer of high-quality products for writing, drawing, coloring, and creative design. Together, the Bank and Faber-Castell hope to play a role in honing Malaysian schoolchildren’s creative potential in the illustration of their financial comics.
The challenge offers a cash prize pool of RM19,200, including a RM3,000 contribution to the development fund for the school with the highest number of participants.
The launch ceremony was officiated by Yang Berhormat Wong Kah Woh, Deputy Ministry of Education together with Alliance Bank’s representative Dr Aaron Sum, Group Chief Strategy, Marketing and Business Development Officer and their programme partners, Faber-Castell, Playmobil and Spark Capital Development Berhad.
The deadline for the Comic Challenge submission is on 30 September 2024. Alliance Bank invites all schoolchildren nationwide aged between 9 and 12 to participate in the AEIOU Challenge to embark on a journey towards sound financial management through various interactive activities.
For more information about the Alliance Bank AEIOU Challenge, please visit http://www.alliancebank.com.my/aeiou
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In this year’s AEIOU Challenge, Alliance Bank introduces the theme “Spot the Scams: Be a Financial Superhero!”, underscoring the crucial role of financial knowledge in navigating today’s digital landscape and equipping young individuals with the skills to identify and avoid financial scams. The campaign provides essential financial education and comprises two main components, namely the AEIOU Comic Challenge (“Comic Challenge”) and AEIOU Financial e-Game Challenge (“e-Game Challenge”) structured in three modules – Save, Plan, Spend. The Comic Challenge allows participants to creatively explore financial concepts, transforming education into an imaginative experience, while the e-Game Challenge teaches financial skills in a dynamic and interactive digital format.
Since its launch in 2015, the AEIOU Challenge has benefitted 140,000 children nationwide and received over 130,000 submissions for the Comic Challenge and e-Game Challenge. Over 1,300 teachers have been empowered to conduct financial literacy workshops at their respective schools. Overall, the challenge has reached out to more than 1,000 schools.
The AEIOU Challenge offers comprehensive guidance through online or physical AEIOU roadshows to guide participants on comic creation while embedding financial education. School teachers will also undergo online briefings via the Train-the-Trainers programme, thus enabling them to guide their students and encourage participation in the AEIOU Challenge.
At the same time, the financial education videos and comic strips are made easily accessible via the AEIOU Mobile app, enabling continuous learning even after the AEIOU Challenge has concluded in support of the Ministry of Education's 2027 School Curriculum framework which promotes lifelong education.
“In line with our goal of becoming The Bank For Life, we align our initiatives with the government’s efforts in raising awareness and support the nation’s aspiration to improve Malaysians’ financial well-being. The AEIOU Challenge is integral to our commitment and ongoing efforts to help Malaysians enhance financial literacy by providing schoolchildren with a platform to learn smart money management. With the rise in financial scams facilitated by technology, it is more vital than ever for young people to grasp financial concepts and be equipped with sound financial knowledge from an early age. This knowledge will not only help safeguard them from scams, but also empower them to make informed financial decisions as they transition into adulthood,” said Mr Kellee Kam, Group Chief Executive Officer of Alliance Bank.
Joining Alliance Bank in empowering Malaysian children with financial literacy are strategic partners for this campaign; PlayMobil Metapark and Faber-Castell, the world's leading manufacturer of high-quality products for writing, drawing, coloring, and creative design. Together, the Bank and Faber-Castell hope to play a role in honing Malaysian schoolchildren’s creative potential in the illustration of their financial comics.
The challenge offers a cash prize pool of RM19,200, including a RM3,000 contribution to the development fund for the school with the highest number of participants.
The launch ceremony was officiated by Yang Berhormat Wong Kah Woh, Deputy Ministry of Education together with Alliance Bank’s representative Dr Aaron Sum, Group Chief Strategy, Marketing and Business Development Officer and their programme partners, Faber-Castell, Playmobil and Spark Capital Development Berhad.
The deadline for the Comic Challenge submission is on 30 September 2024. Alliance Bank invites all schoolchildren nationwide aged between 9 and 12 to participate in the AEIOU Challenge to embark on a journey towards sound financial management through various interactive activities.
For more information about the Alliance Bank AEIOU Challenge, please visit http://www.alliancebank.com.my/aeiou
Deputy Minister of Education YB Wong Kah Woh speaking at the launch of the Alliance Bank AEIOU Challenge Financial Education seventh edition launch.
Deputy Minister of Education YB Wong Kah Woh (left) receiving a token of appreciation from Alliance Bank Group Chief Strategy, Marketing and Business Development Officer
Dr Aaron Sum after officiating the Alliance Bank AEIOU Challenge Financial Education seventh edition launch.