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FNB says AI is changing how banks decide on loans

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Ongoing: AI Cooling

Mark Nasila, FNB's Chief Data and Analytics Officer for AI Strategy, said banks now use artificial intelligence to assess loan applications and manage risk. He stressed that human oversight must stay meaningful when algorithms inform credit decisions.

Nasila said staff must be able to explain the factors behind a credit decision. He said they should not simply rubber-stamp an algorithm's recommendation. He spoke in an interview with presenter Stephen Grootes on The Money Show.

Deutsche Bank says AI has cut decisions on some small-business loans from weeks to minutes. Nasila said FNB is seeing similar applications in South Africa.

Nasila said AI in banking is about more than speed. In his words: "It's about complementing the algorithms with a human touch."

Key facts

Who
Mark Nasila (Chief Data and Analytics Officer for AI Strategy at FNB); Stephen Grootes; FNB (Bank whose AI strategy is discussed); Deutsche Bank (Bank reporting AI cut small-business loan decision times)
When
26 October 2026
Status
Reported

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