Artificial intelligence is starting to play a bigger role in how Malaysians explore financial products. New research suggests consumers are increasingly willing to use AI not only to search for information, but also to help compare loans and navigate applications.

The study found that 76% of Malaysian consumers trust the accuracy of information provided by large language models when comparing loans. At the same time, concerns over scams and impersonation remain high, making trust and security central to the next phase of AI adoption in financial services.

AI Moves Deeper Into Financial Decisions

The findings come from AI in Risk: The Rise of Agentic Commerce, research commissioned by Experian and conducted by Forrester Consulting in July 2026.

The wider study surveyed 6,247 credit-active, digitally literate consumers across 13 markets in EMEA and Asia Pacific, including Malaysia.

Beyond AI loan comparison in Malaysia, consumers appear open to allowing technology to take on more practical tasks. Some 57% of Malaysian respondents said they would give an AI agent at least some autonomy when applying for a loan or credit card.

That could include comparing lenders, checking eligibility, completing parts of an application and submitting authorised documents.

Dawn Lai, Chief Executive Officer of Experian Information Services Malaysia, said consumers are moving beyond simply experimenting with AI and beginning to use it for more meaningful financial activities.

Saving Money Is a Major Attraction

Cost savings appear to be one of the strongest reasons Malaysians are interested in AI-assisted financial services.

According to the research, 92% said a top benefit of using an AI agent would be saving money by finding better prices or rates. Another 63% said they would be comfortable sharing financial data with an agent for an automated loan application.

Still, interest does not mean consumers are ready to give technology complete control.

The study classified 58% of Malaysian respondents as “agent sceptics”, while only 3% were considered “optimisers”. This suggests many consumers see practical value in AI but remain cautious about how much authority it should have.

Scam Concerns Could Slow Adoption

Security is where the challenge becomes clearer.

Some 83% of Malaysian respondents identified AI agent manipulation through fake offers or criminal impersonation as their top concern. According to the study, this was the highest level recorded for that risk among the 13 markets surveyed.

Those concerns come against a backdrop of substantial online scam losses. The media release, citing Malaysia’s Home Ministry, states that losses increased from RM1.57 billion in 2024 to RM2.97 billion in 2025. Another RM830 million was reportedly lost during the first five months of 2026.

As AI tools become more involved in financial transactions, consumers will need clear ways to know whether they are dealing with a legitimate lender, platform or digital agent.

For financial institutions, that puts identity verification, consent controls and fraud detection alongside convenience as key parts of digital transformation.

Malaysia’s Changing Credit Landscape

AI adoption is also taking place as Malaysian households manage significant credit commitments.

The release cites household debt of RM1.73 trillion, equivalent to 84.4% of GDP, as of March 2026. Meanwhile, Buy Now, Pay Later usage grew from 2.6 million users in 2023 to 7.5 million by the end of 2025, although BNPL debt represented about 0.3% of total household debt.

This makes responsible comparison tools potentially useful. Better access to information could help consumers understand available rates and options before making a decision.

But convenience alone will not determine whether AI agents become widely accepted.

Trust Will Shape the Next Stage of Digital Finance

For Malaysia’s financial sector, the findings point to an opportunity as well as a responsibility.

Banks, fintech companies and other financial service providers may be able to make lending journeys faster and easier through AI. Yet consumers are also signalling that stronger safeguards need to accompany that shift.

Experian said financial institutions should strengthen areas such as identity, consent, fraud prevention and explainability as AI becomes more involved in customer interactions. The company is also developing identity, fraud prevention and decisioning capabilities aimed at AI-assisted financial services.

The broader impact could extend beyond lending. Building trusted AI systems may support Malaysia’s digital economy by giving consumers greater confidence to use automated services while encouraging financial institutions to invest in safer digital infrastructure.

Conclusion

Malaysians appear increasingly comfortable using AI to compare financial products, but they have not abandoned caution.

The next phase of AI loan comparison in Malaysia will therefore depend on more than what the technology can do. Financial institutions will also need to show consumers how their information is protected, who controls each decision and how legitimate AI services can be distinguished from scams.

Getting that balance right could help Malaysia move towards more useful and trusted AI-assisted financial services.

Methodology

Experian commissioned Forrester Consulting in July 2026 to survey 6,247 credit-active, digitally literate consumers across 13 EMEA and Asia Pacific markets, including consumers in Malaysia. Respondents represented a balanced mix of generations and employment groups and were selected based on recent experience using digital financial services.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realise their financial goals and help them to save time and money.

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