AI is gaining ground in Singapore’s lending journey, with 83% of consumers trusting it to compare loans across providers.
The finding comes from Experian’s AI in Risk: The Rise of Agentic Commerce report, based on research conducted by Forrester Consulting.
The Singapore study surveyed 482 credit-active, digitally literate consumers as part of a wider study of 6,247 respondents across 13 markets.
Nearly half of Singapore respondents, or 49%, were also comfortable with an AI agent applying for a loan or credit card on their behalf.
Consumers see practical value in AI agents
Comfort falls as tasks move from research to financial commitments.
Some 37% would give an AI agent no autonomy when applying for credit, while 36% would allow it to act only after approval.
Another 27% were comfortable granting conditional or full autonomy.
Respondents also saw practical benefits. Some 89% believed the technology could help them compare more options, while 87% thought it could help find better prices or rates.
Another 85% believed AI agents could save time on research and purchases, while 83% thought they could help spot details such as hidden fees or contract terms.
The institution behind the technology could also influence adoption. Some 77% would feel more comfortable using AI connected to a financial institution they already trust.
Security remains a concern
Some 82% cited the risk of AI agents being manipulated through fake offers or impersonation by cybercriminals as their top concern.
This was the highest level recorded for this risk across the 13 markets surveyed.
The findings come as scams remain a concern in Singapore.
Scam losses fell 17.9% year on year to about S$410.6 million in the first half of 2026, from around S$500.2 million a year earlier, according to Singapore Police Force figures reported by local media.
Household borrowing has also risen. Total household liabilities reached S$415 billion in the first quarter of 2026, up 8.2% from a year earlier, while personal loans rose 14.6% over the same period.
Against that backdrop, the report points to stronger identity, consent and fraud controls as financial institutions prepare for AI agents to take on more of the lending journey.
Kabir Khanna, General Manager of Experian Credit Services Singapore, said,
“Consumers in Singapore are already changing the way they engage with financial services. They are not just experimenting with AI anymore; they are beginning to trust it with more meaningful parts of their financial lives.
For banks and lenders, the question is no longer whether AI will influence the next step of that journey, but how to prepare for it while continuing to earn and protect consumer trust.”
The report highlights identity verification, consent management and fraud prevention as key areas for financial institutions preparing for wider use of AI agents.
Experian is also developing related identity, fraud prevention and decisioning tools, including its Agent Trust framework.
Featured image: Edited by Fintech News Singapore, based on image by peoplecreations via Magnific
