Experian Acquirers Eiger Systems

Experian, the global information solutions company, today announces the acquisition of Eiger Systems, a market-leading provider of bank account validation and payment processing software. Eiger Systems strengthens Experian’s expertise in data integrity, and further extends its services within the fast-growing payments arena. Description of Eiger Systems Eiger Systems develops bank account validation and payment processing software, which reduce the risk and cost involved with electronic transactions. Eiger Systems’ software enables organisations to validate consumer and corporate bank sort code and account details, whether captured on paper, online or over the telephone, and ensures they are submitted securely to BACS, the UK’s automated clearing house. This enables organisations to ensure that Direct Debits, such as the collection of utility bills, and direct credit payments to suppliers or employees are set up with accurate bank details and arrive at the correct destination account. Around one in three of all UK Direct Debits and direct credits are processed by Eiger Systems’ software. Based in Rugby, UK, Eiger Systems was founded in 1997 and currently employs over 80 people. More than 1,000 organisations and over one third of FTSE 100 companies use Eiger Systems’ software, including many of Europe’s clearing banks, insurance companies, telecommunication providers, utility companies, building societies, charities, local authorities and central government departments. These include Nationwide Building Society, Standard Life Assurance, The Carphone Warehouse, Scottish Power and BT Retail. Rationale for acquisition Building on the capabilities of QAS, Experian’s international address and identity management software provider, this acquisition further extends Experian’s data integrity capabilities – now providing clients with access to both personal and financial data accuracy software. The combination of both companies’ technologies will enable clients to simultaneously validate customers’ name and address details, via QAS’ award-winning QuickAddress software, and customers’ bank information using Eiger Systems’ data validation software. By doing this at the point of data capture – whether on paper, online or over the telephone – clients will be able to reduce the margin of error when entering customers’ details, saving time and money in processing payments while also improving customer service levels. The acquisition of Eiger Systems is consistent with Experian’s global strategy of acquiring complementary businesses that provide new products, new data or entry into new vertical or regional markets, while leveraging the core assets of other Experian companies.