South Africans Embrace AI for Credit Decisions

A recent Experian study shows that nearly half of South African credit‑active consumers trust AI agents to apply for loans on their behalf. While the technology offers convenience and savings, trust and security remain key concerns for both consumers and financial institutions.

By Felo News Desk · Published Sat, 19 Sep 2026 10:16:42 GMT

In a groundbreaking study released by Experian, a leading global credit bureau, South African consumers are showing a growing willingness to let artificial intelligence (AI) agents manage key parts of the lending process. The research, conducted by Forrester Consulting, surveyed 483 digitally literate, credit‑active individuals across the country and found that 45 % are comfortable with an AI agent applying for credit on their behalf. The findings signal a significant shift in how borrowers may engage with lenders, raising important questions around trust, security, consent and control.

AI’s Expanding Role in Lending

The report, titled AI in Risk: The Rise of Agentic Commerce, outlines how AI is moving beyond simple information provision to actively supporting the lending journey. Consumers can now use AI to compare lenders, check eligibility, complete applications and securely submit authorised documents. According to the study, 91 % of respondents believe AI can help them compare more options than they could manually, while another 91 % say it can help them save money by finding better prices or rates. A further 91 % feel AI can help them avoid missing hidden fees or contract terms, and 89 % think it can save them time by handling research and purchasing tasks.

These statistics highlight that South Africans are not merely fascinated by the novelty of AI; they see tangible benefits in terms of efficiency, cost savings and risk mitigation. The technology is being embraced because it simplifies complex financial decisions and empowers consumers to make more informed choices.

Consumer Comfort Levels and Autonomy

While the overall sentiment is positive, the study reveals nuanced attitudes toward the degree of autonomy an AI agent should have. When it comes to credit applications, 69 % of respondents are comfortable giving an AI agent the authority to accept a loan offer based on pre‑set criteria. Meanwhile, 64 % are willing to share the personal data required for the application with their AI agent. These figures suggest that many consumers still want to retain oversight over critical decisions, even as they delegate routine tasks to AI.

Thabo Hermanus, chief executive officer of Experian South Africa, emphasized that trust remains the deciding factor. "South African consumers are showing a clear appetite for AI that helps them make financial decisions with more confidence, but trust remains the deciding factor," he said. He added that 89 % of respondents trust large language models (LLMs) to compare loans across providers, underscoring the rapid integration of AI into the decision‑making journey.

Trust, Security and the Role of Financial Institutions

Trust is a pivotal element in the adoption of AI‑assisted lending. An overwhelming 84 % of surveyed consumers indicated they would feel more comfortable using AI connected to a financial institution they already trust. This insight points to a strategic opportunity for banks and lenders: building AI experiences within existing, trusted customer relationships rather than offering AI as a standalone service.

As AI agents become capable of performing more complex tasks, financial institutions must prepare systems that support secure interactions between consumer‑side AI agents and lender‑side platforms. Key areas of focus include identity verification, consent management, fraud prevention and explainability. "As AI agents begin to support more complex financial journeys, the critical question is how businesses verify who is acting, what consent has been given, and whether each interaction can be trusted," Hermanus explained. He highlighted that identity, fraud prevention, decisioning and explainability will become essential as AI‑assisted customer journeys evolve.

Experian is actively helping institutions navigate this transition through advanced identity, fraud prevention and decisioning capabilities. One notable offering is Agent Trust, which enables secure interactions between consumers, AI agents and businesses while helping organisations build trusted AI‑assisted financial services.

What Comes Next for AI‑Assisted Lending?

The study’s findings suggest that the next phase of AI adoption in South Africa will involve deeper integration of AI agents into the lending lifecycle, from initial research to final approval. Financial institutions that invest early in robust identity verification, transparent decision‑making and secure data handling will be better positioned to deliver safe, responsible and scalable AI‑assisted services.

Meanwhile, regulators and industry bodies will need to establish clear guidelines to ensure that consumer consent, data privacy and algorithmic fairness are upheld. As the technology matures, the focus will shift from simply offering convenience to guaranteeing that AI systems operate transparently and ethically.

In summary, South African consumers are increasingly ready to let AI take on credit decisions, but the success of this trend will hinge on building trust, safeguarding data and maintaining human oversight where it matters most.

Key facts

45 % of consumers trust AI to apply for credit on their behalf
91 % believe AI can help compare more loan options and find better rates
84 % prefer AI connected to a trusted financial institution
Identity verification and consent management are critical for secure AI interactions
Experian’s Agent Trust platform supports safe AI‑assisted lending

Why it matters

The study illustrates a pivotal moment in South Africa’s financial services landscape, where AI is moving from a tool for information to an active participant in credit decisions. Its implications for consumer convenience, risk management and regulatory oversight are profound.

Frequently asked questions

What tasks can AI agents perform in the lending process?

AI agents can compare lenders, check eligibility, complete applications, and securely submit authorised documents.

How comfortable are South Africans with AI handling credit applications?

About 69 % are comfortable giving AI the authority to accept a loan offer based on pre‑set criteria, and 64 % are willing to share personal data with the agent.