Artificial intelligence is already changing how consumers find and understand financial information. In South Africa, the next opportunity may be less about using AI to find financial products and more about helping consumers make better use of the choices already available to them. The AI in Risk: The Rise of Agentic Commerce report, a new study that we conducted in partnership with Forrester Consulting, explores how consumers are using AI for financial decision support today and how comfortable they would be allowing AI agents to assist with tasks on their behalf.
The study of 483 credit-active, digitally literate South African consumers, part of a wider study across 13 EMEA and Asia Pacific markets, found that 45% of local respondents are comfortable with AI agents applying for credit on their behalf. The findings point to the next stage in the evolution of financial services, where consumers are allowing AI to move beyond providing information to supporting parts of the lending journey, including comparing lenders, checking eligibility, completing applications and securely submitting authorised documents
More choice is useful when consumers can make sense of it
For consumers, the challenge may be less about finding a loan and more about finding the right one. The research found that only 25% of the surveyed respondents say they find it difficult to search for and compare financial products such as loans or credit cards. Yet 67% would be willing to switch lenders if they found a significantly better rate or offer. AI could make that process quicker by helping consumers scan more options, identify differences between them and focus on offers that better match what they are looking for.
This is reflected strongly in the findings. Alongside the 91% of respondents who believe AI could help them compare more options and find better prices or rates, 91% also believe an agent could help them avoid missing important details such as hidden fees or contract terms. The opportunity is therefore not necessarily about giving consumers access to more financial products. They already have choice; the role of AI could help them make better use of that choice. An AI tool could help research products, organise information and identify relevant differences. Over time, AI agents could potentially go further by supporting specific tasks within an application.
South African respondents see the value, but still want oversight
The local delegation findings make that distinction clearer. When asked how much autonomy they would give an AI agent when applying for a loan or credit card, 40% of the surveyed respondents would want recommendations only, with no action taken. Another 32% would allow the AI agent to act after receiving their approval, while 23% would allow it to act when rules set by the consumer in advance were met. Only 5% would be comfortable giving the agent full autonomy. This does not suggest consumers are rejecting AI. Rather, it shows that they appear comfortable allowing technology to do more of the work while retaining authority over what happens next.
That is an important distinction for banks and lenders. A good AI-assisted customer journey does not necessarily need to remove the consumer from the process. It could instead reduce the effort involved in searching, comparing and preparing, while providing clear points where the consumer reviews or approves an action.
Thabo Hermanus, CEO of Experian South Africa, “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. The fact that 89% of them trust LLMs to compare loans across providers shows how quickly AI is becoming part of the decision-making journey. For financial institutions, this creates an opportunity to build AI-assisted experiences that are useful, secure and transparent, while keeping consumers firmly in control of the choices that matter most.”
Trust needs to work both ways
Experian is helping financial institutions prepare for this evolution through its identity, fraud prevention and decisioning capabilities, including Agent Trust, which is designed to establish a secure, verifiable connection between consumers and their AI agents. For South African consumers, the research does not suggest they want AI to take over their financial lives.
It points to something more immediate: help me see more, help me compare better, help me spot what I might have missed, but keep me in control of what happens next.
Key findings:
- 60% would allow an AI agent some level of action beyond recommendations when applying for a loan or credit card, including action with approval, under rules set by the consumer in advance or autonomously.
- 70% would rely on a GenAI tool to help compare loans or credit products.
- 91% believe AI agents could help them compare more options than they could manually.
- 91% believe AI agents could help them find better prices or rates.
- 84% would feel more comfortable using GenAI provided by, or connected to, a financial institution they already trust.
Experian commissioned Forrester Consulting in July 2026 to survey 6,247 credit-active digitally literate consumers across 13 EMEA and Asia Pacific markets: Australia, China, Denmark, Germany, India, Italy, Malaysia, New Zealand, Norway, Singapore, South Africa, Spain and Turkey. Respondents represented a balanced mix of generations and employment groups and were selected based on recent experience using digital financial services.