••• financial services research
For banking, digital is preferred – except when it’s not
Nearly all consumers and businesses now do at least some of their banking via digital channels and plan to do so permanently, further accelerating a trend that emerged in 2020 as the pandemic unfolded, according to research released by Citizens Financial Group. But while the results highlight a sweeping change in banking habits, they also ratify the enduring importance of human interaction in more complex matters.
According to Citizens’ second annual Banking Experience Survey, nine out of 10 consumers (90 percent) and businesses (86 percent) use digital banking channels, up from 85 percent and 71 percent, respectively, in July 2020. The nationwide survey of consumers and business leaders found not only that widespread digital adoption is here to stay, with at least 70 percent of consumers and business leaders saying it is permanent, but that customers are increasingly comfortable in sharing their personal data with their banks.
However, the survey also found that human interaction – provided either in person or via virtual channels – remains essential when it comes to getting financial advice and for executing more complex transactions, as two-thirds of both consumers and businesses still prefer to tap human expertise when getting any financial advice.
••• brand research
Car marques dominate list of internet’s most misspelled brands
A study by credit broker Money.co.uk found that South Korean automotive manufacturer Hyundai is one of the most misspelled brands on the internet, with an average of 605,000 incorrect global online searches per month. Common search variations for Hyundai include “Hundai” (581,000 monthly searches) and “Hiundai” (24,000 monthly searches). Overall, seven out of the 20 most misspelled brands on the internet are from the automotive industry, according to the study.
In second place is Lamborghini, with an average of 365,000 inaccurate online searches a month for the luxury sports car giant. Those searching for Lamborghini are typically misspelling it as “Lamborgini” (351,000 monthly searches) and “Lambogini” (14,000 monthly searches).
Ferrari is in third position. The misspelled “Ferari” is searched online an average 123,000 times a month.
French cognac producer Hennessy (“Henessy,” “Hennesy,” “Henesy” – 95,100 combined) and Dutch beer producer Heineken (“Heinken” – 90,000) respectively rank fourth and fifth.