Most Singapore respondents in a new Experian study say they trust artificial intelligence to compare loans across providers, but willingness to let AI act autonomously remains much lower as security and fraud concerns rise.

The research, conducted by Forrester Consulting for Experian, found 83 percent of 482 credit-active, digitally literate consumers surveyed in Singapore trust AI to compare loans. The findings come as financial institutions across the region prepare for more agent-led customer journeys.

Consumers want help comparing, but retain control

The study found 89 percent of Singapore respondents believe an AI agent could compare more options than they could manually, 87 percent believe an agent could help find better prices or rates, and 85 percent say AI could save time by handling research and purchasing tasks.

Another 83 percent said an agent could help them avoid missing details such as hidden fees or contract terms.

Comfort falls as AI moves from research into making commitments. Experian said 49 percent of Singapore respondents are comfortable with an AI agent applying for a loan or credit card on their behalf.

At the same time, 37 percent said they would grant an AI agent no autonomy when applying for credit, while 36 percent would allow it to act only after receiving their approval. The remaining 27 percent would allow conditional or full autonomy.

Manipulation and impersonation remain major concerns

The study found 82 percent of Singapore respondents cite AI agent manipulation through fake offers or impersonation by cybercriminals as a top concern. Experian said this was the highest level recorded for that risk across the 13 markets included in the wider survey.

More than three-quarters, or 77 percent, said they would feel more comfortable using AI connected to a financial institution they already trust.

Experian said those findings point to a need for stronger identity verification, consent management and fraud controls as AI agents become more involved in financial product discovery and applications.

Kabir Khanna, General Manager of Experian Credit Services Singapore, said the opportunity is not simply to make financial services faster, but to establish who an AI agent represents, what the consumer has authorized it to do and whether the interaction can be trusted.

Singapore results sit within a wider regional study

Experian commissioned Forrester Consulting in July 2026 to survey 6,247 credit-active, digitally literate consumers across 13 EMEA and Asia Pacific markets, including 482 respondents in Singapore.

The Singapore sample represented a mix of generations and employment groups and was limited to respondents with recent experience using digital financial services. That means the findings should not be read as representative of every Singapore resident.

The broader study found consumers are increasingly comfortable using AI to research and compare financial products, but continue to place limits on how far an agent should be allowed to act without explicit approval.

For banks and fintech companies, that creates a dual requirement: make AI useful enough to reduce search and decision friction, while adding enough identity, authorization and fraud controls to keep users confident as software agents take on more of the financial journey.

Featured image: Jakub Żerdzicki on Unsplash

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