AI Algorithms Scrutinize Wallets: Are They Deciding Poles' Credit?

Artificial intelligence is becoming a cornerstone of credit processes in Polish banks, particularly for rapid online cash and installment loans. Algorithms now automate fundamental tasks, including identity verification, document analysis, and assessing customer financial situations. These technologies also play a crucial role in estimating credit risk and combating fraud.

Szymon Kośnik, Director of the Retail Customer Risk Department at Erste Bank Polska, explained that AI solutions are broadly applied across business processes. He highlighted their role in creditworthiness assessment and preventing fraud, noting that these technologies enable faster, more precise decision-making while maintaining high security and regulatory compliance standards.

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We use artificial intelligence-based solutions in a wide range of business processes, including creditworthiness assessment, but also in preventing fraud and deception.

The integration of AI offers significant benefits to both banks and customers. Borrowers enjoy time savings and convenience, with loan applications often completable within minutes via mobile apps. Banks, in turn, achieve higher operational efficiency, leading to the approval of more customer applications and a substantial increase in the effectiveness of risk assessment and fraud detection.

This technological shift is driving further integration, with AI expected to become even more embedded in banking applications. VeloBank's "VeloFotka" service, which uses AI to automatically read product price tags for installment purchases, exemplifies this trend. Alior Bank is also investing in AI systems designed not only to passively assess applications but also to actively engage in real-time decision-making.

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These technologies support faster and more precise decision-making, while maintaining high standards of security and regulatory compliance.