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Most lenders are using AI, yet only 3% are data ready
Matched: Australia
A study has found that while most Australian lenders are actively implementing AI, only 3% have the data infrastructure needed to support it effectively. The findings highlight a significant gap between adoption ambition and operational readiness, raising concerns that lenders are deploying AI tools without the foundational data quality and governance required for reliable outcomes.
Experian research flags AI-data readiness gap among Australian lenders
Matched: Australia
Australian lenders are rushing to adopt AI for credit and fraud risk, but many say their data infrastructure isn't ready to support it, according to new Experian research. The findings point to a gap between deployment ambitions and data quality, with institutions potentially exposing themselves to risk by implementing AI systems before the foundational data requirements are in place.
NAB to begin testing of agentic AI for customers
Matched: Australia
NAB will begin testing an agentic AI platform for its lending operations. The system would allow AI to autonomously complete multi-step tasks on behalf of customers, such as gathering documents and progressing loan applications. The bank said the technology could significantly reduce processing times, though it emphasised human oversight would remain part of the process.