Over eight in 10 trust AI to compare loans but hesitate on applications

About 77% are more comfortable using AI linked to a trusted financial institution.

More than eight in 10 consumers trust artificial intelligence (AI) to compare loans across providers, yet only 49% are comfortable with an AI agent applying for credit on their behalf.

A report by Experian found that more than three-fourths, or 77%, said they would be more comfortable using AI connected to a financial institution they already trust.

Nearly nine in 10 believe AI agents could compare more options than they could manually, whilst 87% said the technology could help them find better prices or rates.

Another 85% said AI could save time by handling research and purchasing. About 83% said it could help identify details such as hidden fees or contract terms.

However, 37% of consumers said they would grant an AI agent no autonomy, whilst 36% would allow it to act only after receiving their approval.

The remaining 27% would allow conditional or full autonomy, the report said.

AI agent manipulation through fake offers or impersonation was cited as the top concern by 82% in Singapore, the highest level recorded for the risk across the 13 markets covered by the study.

Experian commissioned Forrester Consulting in July to survey 6,247 credit-active, digitally literate consumers across 13 markets. The Singapore sample comprised 482 respondents.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia