India, Aug. 21 -- HT Syndication

New Delhi [India], August 21: A loan being approved instantly, without a human reviewing it, was once a powerful demonstration of what fintech could do. Ranvir Singh thinks that threshold has already been crossed.

Speaking at the CNBC-TV18 Banking Transformation Summit, Kissht's Chairman and CEO was asked whether AI had advanced far enough for lenders to trust it with credit decisions entirely on its own, without human involvement.

Ranvir's response was less about replacing people and more about how the nature of credit assessment itself is changing.

"The question in traditional lending was a deceptively simple one: whether the customer will repay or not. With AI, you are able to ask a much richer set ...