In this case, “algorithmic” really means “shifting responsibility to a computer”.
I had an experience like this earlier this year, when I went to buy a car. There was part of the financing regarding the state Sales Tax that I didn’t understand. When I asked their “finance manager” about it, he said that the computer spit out all the numbers and they pay a lot of money for that software so the numbers must be correct.
I almost stopped the deal right there, but I went home and googled the answer, and they were doing it correctly after all. The deal was pretty good so I still bought the car. Still, it amazes me that businesses don’t feel the need to promote managers who actually understand finance because “the computer does all the hard math”.