Time Savings through AI - but many fear data leaks - AI in banking gains trust but faces security hurdles from wary customers
Bank customers are increasingly open to using artificial intelligence for financial tasks, but concerns about security remain high. A new survey reveals that while many see benefits in AI-powered services, fears over data breaches and unfair decisions still hold them back. Meanwhile, ING Germany is preparing to roll out an AI-driven mortgage approval system by 2026, promising faster processing while keeping a human in the final decision-making loop.
The survey found that most customers would welcome AI help for routine banking tasks. Over half of respondents said they would use AI suggestions to avoid fees or analyse spending habits for better savings. Two-thirds also expressed interest in AI tools that could flag potential scams before they send money. However, only 37.7% would trust a fully automated AI system for credit applications, worried about arbitrary rejections.
Time savings emerged as the biggest perceived advantage of AI in banking. Many respondents liked the idea of AI filling out forms or compiling application documents for them. Yet, four out of five online banking users ranked data protection as their top concern when using AI services.
ING Germany's upcoming 'Instant Baufi' service, launching in the second quarter of 2026, will use AI to assess mortgage applications in as little as 30 minutes. The system will automatically gather property data and analyse account history, but a human will still make the final loan decision. This approach reflects Germany's cautious adoption of AI in lending, where strict regulations like GDPR and limited risk capital slow full automation. Younger customers, in particular, are growing more comfortable with AI-driven advice and quick decisions, though broader acceptance remains gradual compared to other European countries.
The shift toward AI in banking is gaining momentum, with customers valuing speed and convenience but demanding strong data protections. ING's hybrid model—combining AI efficiency with human oversight—aims to address these concerns. As the technology develops, its success will depend on balancing innovation with security and transparency for users.
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