"Take alternative data seriously. The old way of evaluating personal credit is not going to work in 2021. Risk models need to adapt, and marketing lenders need to use alternative data to manage this. FICO is now revising their scoring to weigh the impact a personal loan has on a credit score, as a result of the sheer popularity of personal loans—which have led to easy approvals, funding (thanks to the rise of fintech lenders), and too many consolidation loans. FICO is now using an alt data category called “trending data” to track (and score) how well a consumer manages debt levels across all accounts."
American Banker, March 2021