Convey Launches New Website: Transforming Customer Engagement for Utilities

Convey, a leading provider of customer engagement solutions, has launched its new website at goconvey.com. The website reflects the company's mission to simplify complexity, strengthen community connections, and enhance customer experience through intelligent workflows. Convey's solutions help utilities and regulated industries build trust with their customers and reimagine the customer journey. The new website features modern design, intuitive navigation, and a resource hub with customer success stories and thought leadership.

Lloyds Banking Group has recently partnered with PayPoint to expand its cash deposit services, enhancing customer accessibility and engagement. The initiative involves enabling customers to deposit cash at over 30,000 retail locations via app-generated barcodes, a significant move in the UK retail banking sector [1].

The partnership aims to cover 99.5% of the UK population within a mile of a PayPoint location, reducing the need for traditional branches and ATMs [1]. This approach aligns with the 68% of UK adults who still use cash regularly, addressing a critical pain point for customers [3]. By integrating PayPoint's extensive network, Lloyds is able to offload cash-handling costs and boost app engagement metrics, while supporting PayPoint's £100M EBITDA growth goals [1].

The new service allows Lloyds, Halifax, and Bank of Scotland customers to deposit up to £300 daily in cash at PayPoint locations via a barcode generated through the Lloyds app. This integration reflects Lloyds' commitment to hyper-personalization, transforming a traditionally transactional service into a seamless digital experience. Real-time fund availability and the ability to deposit cash while running errands align with modern customer demands [2].

The fintech-driven execution of this partnership exemplifies how traditional banks can adopt agile, app-centric solutions to compete with neobanks. The "barcode cash deposit" feature, valid for two hours, creates a secure and user-friendly process [4]. This innovation mirrors the "banking as a service" (BaaS) model, where third-party platforms like PayPoint act as distribution channels for core banking services.

The partnership positions Lloyds to capitalize on PayPoint's strategic growth ambitions, supporting its goal of achieving £100 million in EBITDA by 2025. For Lloyds, this collaboration reinforces its brand as a customer-centric institution while offloading operational costs associated with maintaining physical cash-handling infrastructure [2].

From an investment perspective, the partnership’s potential to boost Lloyds’ customer lifetime value is significant. Enhanced app engagement, coupled with the ability to upsell services, creates a flywheel effect. Meanwhile, PayPoint’s EBITDA growth trajectory, bolstered by this collaboration, could attract investor interest in its stock as a high-growth fintech enabler [2].

Conclusion
Lloyds’ strategic expansion into cash deposit services via PayPoint is a masterclass in balancing innovation with practicality. By addressing customer needs through fintech integration, the bank is not only enhancing engagement but also future-proofing its business model in a rapidly evolving sector. For investors, this partnership represents a compelling case study in how traditional financial institutions can leverage third-party ecosystems to drive growth, efficiency, and customer loyalty.

References:
[1] https://www.ainvest.com/news/lloyds-banking-group-strategic-expansion-cash-deposit-services-fintech-driven-boost-customer-engagement-uk-retail-banking-sector-2509/
[2] https://chattermill.com/blog/the-6-big-challenges-cx-is-facing-in-2025
[3] https://au.investing.com/news/company-news/lloyds-banking-group-partners-with-paypoint-for-cash-deposits-93CH-3972142
[4] https://www.which.co.uk/news/article/lloyds-bank-launches-new-way-to-deposit-cash-in-shops-aEMBS9k8Tx0f