What is Veda?

Veda was the largest credit reference agency in New Zealand. In February 2016, it was taken over by Equifax, which maintains a database of consumer credit files that businesses and individuals use to monitor credit reports and combat identity theft.

Where have you heard about Veda?

Veda now operates under the name Equifax, a company we’re familiar with in the UK as it’s one of the big three credit reference agencies, along with Experian and Callcredit. It gathers information on people’s payment history, credit history and borrowing habits.

What you need to know about Veda.

The agency works with lenders and other businesses to help them make decisions about whether to grant applications for loans, credit cards and other financial products, assessing whether the person applying for credit is likely to pay it back or not.

As well as credit checks, it also provides services such as identity theft protection, fraud protection and debt management solutions.

Veda has undergone a few name changes over the years, previously being called Baycorp, Baycorp Advantage, Veda Advantage and now Equifax.