Artificial intelligence continues to gain momentum across the financial services industry, according to a new study from Experian. The Experian Perceptions of AI Report surveyed more than 200 decision-makers at leading financial institutions to better understand how organizations view AI investments, adoption priorities, and expected outcomes. The findings show that financial institutions increasingly see AI as a core component of their business strategies, particularly across the lending lifecycle.
AI Adoption Accelerates Across Financial Institutions
The study reveals that AI adoption is accelerating among financial institutions. In fact, 84% of respondents said AI technology is critical or a high priority for their business strategy over the next two years. In addition, 89% of respondents indicated that AI will play a critical role throughout the lending lifecycle.
Respondents identified several outcomes they expect from investing in AI. These include increased operational efficiency, improved accuracy in credit decisioning, and stronger risk mitigation capabilities. Together, these factors underscore why financial institutions continue to prioritize AI investments as part of broader digital transformation efforts.
Vijay Mehta, EVP of Global Solutions and Analytics for Experian Software Solutions, said the study provides insight into what drives AI adoption among Experian’s financial institution customers. He also noted that the findings reflect the complexity institutions face as they balance innovation with regulatory and data-related considerations.
Regulatory Concerns and Data Challenges Shape AI Strategies
While interest in AI continues to grow, the study shows that financial institutions approach adoption with caution. According to the findings, 73% of respondents expressed concern about the regulatory environment surrounding AI. At the same time, 65% cited having AI-ready data as one of the biggest challenges in implementing AI solutions.
Data quality emerged as a central issue in AI decision-making. Respondents identified it as the most critical factor influencing trust in vendors when selecting an AI partner. As a result, transparency and explainability remain essential considerations for financial institutions evaluating AI solutions.
Mehta emphasized that concerns around regulation and data quality reinforce the importance of explainable AI. He stated that eliminating perceptions of AI as a “black box” helps build trust and supports compliance efforts. According to the study’s findings, vendors must offer transparent, inclusive AI-powered products supported by accurate data.
Experian Focuses on Data and Analytics Capabilities
The concerns identified in the study align closely with Experian’s stated strengths. Mehta highlighted Experian’s data ecosystem and advanced analytics capabilities, which support faster model development, improved decisioning, and streamlined go-to-market strategies. He also pointed to real-time identity protection and fraud prevention as key components of Experian’s approach.
Recent AI-powered enhancements to the Experian Ascend Platform further reflect this focus. According to Mehta, these systems help anticipate customer needs, detect risk, surface business opportunities in real time, and deliver measurable return on investment.
Study Methodology
Phronesis Partners conducted the Perceptions of AI Report on behalf of Experian. The survey included 200 key decision-makers from leading financial institutions. The study examined AI investment strategies, adoption priorities, and the challenges institutions face as they integrate AI into their operations.
About Experian
Experian is a global data and technology company that supports people and businesses worldwide. The company works across industries, including financial services, healthcare, automotive, agrifinance, and insurance. Experian uses data, analytics, and software to help redefine lending practices, prevent fraud, simplify healthcare, deliver digital marketing solutions, and provide deeper market insights.
Experian employs approximately 22,500 people across 32 countries and is headquartered in Dublin, Ireland. The company is listed on the London Stock Exchange as part of the FTSE 100 Index. More information is available at experianplc.com.
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