According to the Equifax website:


Delivers a credit score that represents the creditworthiness of a person by evaluating their likelihood of repaying their debt.
Key Features:

  • Backed by Equifax’s consumer credit database which now includes      mortgage data — the largest in Canada — and built on FICO’s scoring      systems.
  • Based on the FICO® 8 Score blueprint, the redeveloped BEACON score      features innovative methods for assessing lines of credit and consumers      who are new to credit.


How it works:

BEACON uses a refined methodology to assess a consumer’s repayment performance across all their accounts to help predict the likelihood that an existing or potential customer will become delinquent within the next 24 months. This revitalized Score maintains consistency with prior BEACON Scores in key areas, namely the minimum scoring criteria, 300-900 score range, reason codes and odds to score relationship, making it easy to adopt and use.
A proven scoring solution, BEACON  enables the lender to:

  • Approve accounts while minimizing risk
  • Accelerate decision making
  • Improve account profitability
  • Streamline      account management

Source:  Equifax Canada  (