Robots to issue loans to Russians

Credit: Ruslan Krivobok | RIAN

By the end of 2020, robots will be issuing all loans at Sberbank. They will analyze risks, including whether loans will be paid off on time.

According to Sberbank first deputy chairman Alexander Vedyakhin, artificial intelligence is currently being introduced in the bank’s operations. In fact, each department uses robots. Bank employees issue 100% of credit cards in accordance with the decisions taken by AI, and 90% of consumer loans can be issued only with the permission of an assistant robot.

However, as for mortgage loans, here 50% of decisions are taken by robots and the other 50% by people. According to the RIA Novosti news agency, mortgage loans are a more complex product. It is expected that robots will be able to issue all kinds of loans by the end of 2020.

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