The FICO® Score is the standard measure of consumer credit risk used in more than 25 countries
- FICO extends multi-year agreement with Equifax® Canada to distribute FICO® Scores to lenders, consumers and additional businesses in Canada
- BEACON Score to be renamed FICO® Score in Canada
FICO today announced that it has extended a multi-year agreement with Equifax Canada to distribute FICO® Scores to lenders, consumers and additional businesses in Canada. The renewed agreement continues to offer the FICO® Score, previously named BEACON®, to the Canadian market and continues to leverage Equifax mortgage data to enhance predictive power.
“The extension of our distribution agreement ensures that the Canadian market will continue to benefit from one of the most predictive, trusted credit scoring tools for risk management,” said Kevin Deveau, Vice President and Managing Director, FICO Canada and Head of NORAM Insurance. “The FICO Score has been a critical part of the lending process in Canada for nearly 30 years.”
“Our continued relationship with FICO underscores Equifax Canada’s dedication to delivering innovative insights to the Canadian market,” said Lisa Nelson, president of Equifax Canada. “The FICO Score has served Canadian customers well, and continuing to offer it as part of our product suite ensures we are providing a comprehensive selection of scores that empower our customers to make better business decisions.”
This extended agreement continues to enable customers to enhance their credit risk management in Canada. This extension drives value for organizations, as accessible data can be used for more informed credit decisions.
The FICO Score is the standard measure of consumer credit risk and used in more than 25 countries on five continents.
Source: FICO Press Release