Financial institutions are doubling down on AI, but success hinges on data quality and regulatory compliance, according to Experian’s Perceptions of AI Report. The study, which surveyed over 200 decision-makers at leading banks and financial organizations, reveals that 84% of respondents consider AI critical or a high priority for the next two years.
Moreover, 89% expect AI to play a central role across the lending lifecycle, with outcomes such as improved credit decisioning, operational efficiency, and enhanced risk mitigation topping their list.
Data Quality: The Foundation of Trust
While AI adoption is accelerating, respondents flagged two main challenges:
- Regulatory uncertainty: 73% are concerned about evolving AI regulations
- AI-ready data: 65% cite access to high-quality data as a major obstacle
Experian emphasizes that data quality is the single most critical factor when selecting AI vendors. As Vijay Mehta, EVP of Global Solutions and Analytics, notes:
“High marks regarding the regulatory environment and data quality underscore the need for explainable AI, eliminating perceptions of AI as a ‘black box’ and building trust.”
In other words, institutions aren’t just looking for powerful AI—they want transparent, explainable systems that comply with regulations and deliver trustworthy outcomes.
AI-Driven Insights and Risk Management
The report highlights the strategic applications financial institutions are prioritizing:
- Operational efficiency: Automating repetitive processes to save time and reduce costs
- Credit decisioning: Improving accuracy through predictive modeling and AI analytics
- Risk mitigation: Detecting fraud, reducing defaults, and strengthening compliance
These areas are where AI investment is expected to yield the clearest ROI.
Experian’s Advantage in the AI Era
Experian leverages its data ecosystem and advanced analytics to address these challenges. Its Ascend Platform now integrates AI-powered capabilities that anticipate customer needs, detect risk in real time, and surface actionable business opportunities.
“With intelligent, proactive systems, we accelerate model development, decisioning, and go-to-market strategies, ultimately delivering demonstrable ROI,” said Mehta.
By combining trusted, high-quality data with explainable AI, Experian positions itself as a partner capable of helping financial institutions deploy AI safely, efficiently, and strategically.
The Takeaway
AI adoption in financial services is no longer optional—it’s central to business strategy. But the report makes one thing clear: without high-quality, explainable data and adherence to regulatory standards, AI initiatives risk falling short. For vendors and institutions alike, the path to success requires marrying technological sophistication with trust, transparency, and operational rigor.
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