Equifax Canada Co. Extends FICO Partnership
August 08 2018 - 7:00AM
Equifax® Canada today 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 agreement renews a commitment that the two
firms will continue working together to develop new innovative
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.
“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.”
“The extension of this 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. “The
FICO Score is a critical part of the lending process in
Canada.”
About Equifax
Equifax is a global information solutions
company that uses unique data, innovative analytics, technology and
industry expertise to power organizations and individuals around
the world by transforming knowledge into insights that help make
more informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates
or has investments in 24 countries in North America, Central and
South America, Europe and the Asia Pacific region. It is a member
of Standard & Poor's (S&P) 500® Index, and its common stock
is traded on the New York Stock Exchange (NYSE) under the symbol
EFX. Equifax employs 10,800 employees worldwide.
Contact:
Andrew FindlaterSELECT Public
Relationsafindlater@selectpr.ca(416) 659-1197
Tom CarrollMedia RelationsEquifax
CanadaMediaRelationsCanada@equifax.com (416)
227-5290
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