My experience with algorithmization so far is just the opposite. 20 years ago the bank manager would tell you "no, I'm not willing to offer you that mortgage because the house is overpriced / I called your manager and they said you were flaky / your hair was scruffy when you came in"; of course they could lie or refuse to give you a reason, but most of the time you got some explanation. Nowadays you just get "computer says no".