Definition
Beacon is the commercial name of Equifax Canada's proprietary credit score model, used to calculate the 300-900 score from your credit file data. Several versions coexist: Beacon 5, Beacon 9, Beacon 10 — each lender picks which version it queries, which is why you may see slightly different scores across banks.
The TransUnion equivalent in Canada is the FICO Risk Score 9.0. Both give close but not identical numbers. Most A Canadian lenders pull files from both agencies and use the lower of the two scores ("lower mid score") for their decision — a more conservative approach.
Do not confuse with the "vanity" scores displayed for free by certain apps (Credit Karma, Borrowell), which often use a different marketing model ("educational score") not used by real lenders. Ask your broker to pull the official Beacon via Equifax for an accurate read.