New Forrester research shows growing New Zealand trust in AI-assisted lending
More than half of credit-active New Zealanders would be comfortable letting an AI agent apply for a loan or credit card on their behalf, according to new research from data and technology company Experian, conducted by Forrester Consulting.
The study, AI in Risk: The Rise of Agentic Commerce, found that 56% of New Zealanders surveyed would be comfortable with an AI agent handling a credit application, while 73% said they trust large language models (LLMs) to compare loans across different providers.
Security concerns remain the sticking point, despite the appetite
Even with that openness, security is still the leading hesitation. More than three in four respondents (77%) cited concern about AI agent manipulation — including fake offers or impersonation by cybercriminals — as their main worry about using an AI agent, and 71% said they'd feel more comfortable using an LLM connected to a financial provider they already trust.
That caution mirrors a pattern already showing up in the homebuying journey: a separate study finding a "trust cliff" among buyers, who lose confidence sharply after even a single AI error, more so than after an equivalent human mistake.
Andrew Black, Experian Australia and New Zealand chief executive, said the findings point to a clear expectation banks and lenders will need to meet.
"Banks and lenders now need to give consumers confidence that their information will be protected and that they will remain in control of important decisions," Black said.
Regulators are watching the same issue closely: the FMA's 2026/27 Financial Conduct Report flagged responsible AI adoption and consumer outcomes as a priority area, noting an opportunity to build greater sector-wide confidence in how AI is used.
Consumers see practical value, not just novelty
Respondents pointed to concrete benefits rather than curiosity about the technology itself. Eighty-two per cent believe an AI agent could compare far more options than they could manually, 77% said an agent could help them find better prices or rates, and 82% expect an agent to help them avoid missing hidden fees or contract terms.
Within the loan process specifically, 76% would be comfortable with an agent searching for and compiling the best offers, and 73% would let an agent negotiate on their behalf. A smaller but still substantial share, 62%, would allow an agent to complete identity checks, while 61% would let one accept a loan offer based on pre-set criteria.
That consumer appetite may be running ahead of lenders' own readiness: separate Experian research found 76% of New Zealand financial institutions are already using agentic AI for underwriting decision support, yet only 2% describe their data as fully ready for AI-driven decisioning.
The research surveyed 482 credit-active New Zealand consumers as part of a broader 6,247-person study across 13 EMEA and Asia-Pacific markets, conducted in July 2026.
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