The most dangerous AI output in financial services is not one that looks wrong. It is one that looks right, but isn’t. Over the past few months, clients have been asking us a fair question: “Can’t we just upload customer bank statements into ChatGPT or Claude and get the same result?” It’s a fair question. […]
Under the National Credit Act and its amendments, credit providers are required to perform affordability assessments before granting credit. In practice, this means reviewing a customer’s bank statement data – either through physical statements, uploaded PDFs, or digital retrieval. South Africa processes roughly 18 million credit applications per quarter – around 6 million per month. […]