FICO extends partnership with Equifax Canada

Tuesday 21 August 2018 13:03 CET | News

Equifax Canada has announced that it has extended a long-standing partnership with FICO to distribute FICO scores to lenders and other businesses in Canada.

Building on a partnership of nearly 30 years, the companies highlighted that the agreement renews a commitment that the two companies will continue working together to develop analytic solutions for the Canadian market.

As part of this renewed agreement, credit scores which have been previously distributed under the brand name BEACON, will now be delivered under the FICO brand name as FICO scores based on Equifax data. FICO Score 8 based on Equifax Data, which was previously called BEACON 9.0, will continue to leverage Equifax mortgage data. It will also continue to provide substantial improvement in predictive power compared to prior scores.

In June 2018, FICO and Equifax launched a solution to assess a consumer’s repayment risk as well as their ability to afford new credits.

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Keywords: Equifax Canada, FICO, partnership, credit scores, risk management, online security, data analytics, fraud prevention, Canada
Countries: World

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