Industry News and Headlines

How Can Machine Learning Unlock Credit in South Africa

Access to credit remains elusive for most South African small businesses, with over 85% of firms earning under R1 million facing high rejection rates. A Forrester‑Experian study shows that 70% of senior lenders believe machine learning can improve risk accuracy and broaden inclusion. Organizations using ML report 93% higher credit‑card acceptance and 89% lower bad‑debt, while alternative data lifts profitability for thin‑file customers. The shift toward Open Banking and increased ML investment promises to reshape credit decisioning across the country.