Carleton, a provider of compliant loan calculation and disclosure solutions, released findings from a nationwide survey highlighting the lending industry’s perspectives on artificial intelligence (AI) in loan compliance and error detection. The results reveal a mix of optimism and caution, with many lenders acknowledging AI’s promise but remaining hesitant to fully trust its application in high-stakes compliance processes.
The survey, presented to more than 2,000 lending, banking, auto finance and fintech professionals throughout the country, found that trust in AI-driven systems remains limited. Only 27% of lenders reported that they completely or mostly trust AI for loan calculations, while 30% remained neutral and 43% expressed only slight trust or no trust at all. This cautious outlook underscores the industry’s continued reliance on proven, compliant systems even as interest in AI accelerates.
Confidence in AI’s compliance impact is similarly mixed. While 43% of lenders agreed or strongly agreed that AI could effectively detect and prevent compliance errors, 28% remained neutral and nearly 30% disagreed. The survey also revealed that compliance issues persist as a regular pain point: one in five lenders reported experiencing compliance-related issues on a regular basis, and nearly a quarter encounter them occasionally.
When asked about their greatest frustrations in the compliance process, the top responses reflected the pressures AI tools are often positioned to address: the risk of making a costly compliance error (26%), the time required to finalize deals (25%), and the complexity of ever-changing regulations (19%). Manual paperwork and lack of transparency with lending partners were also cited as key challenges.
Furthermore, many financial institutions rely on third-party vendors for AI solutions, which introduces additional compliance risks. Without a robust governance framework and clear accountability, it’s difficult to ensure these systems are secure and compliant.
“These findings show that while lenders see potential in AI to strengthen compliance, the trust gap remains significant,” Tim Yalich, vice president of business development at Carleton, said. “The industry is rightly cautious, as lenders need assurance that AI-driven systems can deliver the same level of accuracy and reliability as proven compliance solutions. Carleton remains committed to combining innovation with the rigorous compliance standards our partners rely on.”
