1 week ago
Indian Consumers Weigh Agentic AI for Credit Decisions
Many people in India already use AI to understand loans, interest rates, fees, and credit scores.
A newer kind of AI, called agentic AI, could do more than answer questions.
It could compare loans, organize information, and take approved actions for a person.
Most surveyed consumers thought this could save time and help them find better deals.
However, people were less comfortable letting AI apply for a loan completely on its own.
They wanted to keep control over important money decisions.
Many also worried that AI could use old or wrong information.
Others feared unfair promotion of certain companies, misuse of personal data, or attacks by criminals.
The research suggests that trust and clear rules will be important before agentic AI handles more parts of borrowing.
A survey of 480 credit-active, digitally literate Indian consumers found that 45% use general-purpose AI models to understand financial terms.
More than 90% said AI agents could help compare options, save money, save time, and identify fees or contract details.
Although 60% were comfortable with an AI agent applying for credit, only 32% supported conditional or full autonomy.
Trust was higher when the AI was provided by or connected to a financial provider consumers already trusted.
The main concerns were inaccurate information, provider bias, personal-data misuse, and manipulation by cybercriminals.
- Who
- Experian and Forrester Consulting surveyed 480 credit-active, digitally literate Indian consumers; Manish Jain, Experian’s India country managing director, commented on the findings.
- What
- The research examined how Indian consumers use AI for financial decisions and how willing they are to let agentic AI compare and apply for credit products.
- Where
- India.
- When
- The study was conducted in July 2026, according to the article.
- Why
- Consumers see potential benefits in faster comparisons, better rates, and fewer missed details, but concerns about accuracy, bias, privacy, and cybercrime may limit adoption.
Potential Benefits
Consumer Concerns
Automated comparison
Potential Benefits
AI agents could compare more credit options, find better rates, save research time, and highlight fees or contractual terms.
Consumer Concerns
Consumers worry that agents could rely on incorrect or outdated information or favor particular brands and providers.
Greater autonomy
Potential Benefits
An agent could carry information across searching, comparing, applying, document submission, and follow-up, making borrowing more connected.
Consumer Concerns
Consumers remain cautious about allowing AI to make or execute consequential financial decisions without their permission and oversight.
Provider trust
Potential Benefits
Consumers may be more willing to use agentic AI when it is provided by or connected to a financial provider they already trust.
Consumer Concerns
Even trusted-provider systems raise concerns about personal-data misuse and manipulation or impersonation by cybercriminals.
Key facts
- Survey sample
- 480 credit-active, digitally literate Indian consumers
- Existing AI use
- 45% had used general-purpose large language models to understand financial terms
- Comparison benefit
- 94% said an AI agent could help them compare more options manually
- Potential savings
- 92% said an agent could help save money by finding better rates
- Application comfort
- 60% were comfortable with an AI agent applying for a loan or credit card
- Autonomy comfort
- 32% were comfortable giving an agent conditional or full autonomy for an application
- Leading concerns
- 72% worried about incorrect or outdated information and 72% about favoritism toward certain providers
- FY26 lending scale
- Experian India’s Manish Jain said lenders sourced 51.69 crore loans worth Rs.97.7 lakh crore in FY26
Quotes
Experian report
The Experian report on agentic AI and Indian consumer credit behavior
“Competition shifts from winning the search to winning the agent’s consideration.”
livemint.com
Manish Jain
Country Managing Director of Experian in India
“India’s retail credit market is already operating at significant scale, with lenders sourcing 51.69 crore loans worth Rs.97.7 lakh crore in FY26. As AI becomes more embedded across this ecosystem, trust, governance, and clear accountability will be critical to scaling its use responsibly. The next phase of adoption will be defined not by how autonomous technology can become, but by how confidently consumers and financial institutions can trust it.”
livemint.com
Sources
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