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.
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.
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.
Harry Meikle, Group Managing Director of QAS, stated:
“The acquisition of Eiger Systems, a successful fast growing company, reflects the strong strategic fit between both organisations. It also reinforces Experian’s ability to provide clients in the UK and overseas with a suite of complementary data accuracy software products to ensure that the integrity of customer data – both personal and financial – is captured with greater precision. Together, our joint proposition will provide significant opportunities for future growth and add a new dimension to the scope, scale and range of software solutions we are able to offer our clients.”
Callum Johnston, Managing Director of Eiger Systems, added:
“As an Experian company we can now leverage its considerable resources to take Eiger Systems’ business in Europe to the next level. Given the high growth expected in electronic payments throughout Europe, combined with the support and experience of QAS and Experian, Eiger Systems has a great opportunity to deliver first-class software solutions to major markets across multiple territories.”
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.
Eiger Systems will trade as ‘Eiger Systems, an Experian company,’ within QAS. It will continue to be led by the current management team and will report to Harry Meikle, Group Managing Director of QAS.
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Experian is a global leader in providing value-added information solutions to organisations and consumers.
Experian provides information, analytics, decision-making solutions and processing services. Using its comprehensive understanding of individuals, markets and economies, it helps organisations to find, develop and manage customer relationships to make their businesses more profitable.
Experian promotes greater financial health and opportunity among consumers by enabling them to understand, manage and protect their personal information, helping them control financial aspects of key life events and make the most advantageous financial decisions.
Experian works with clients across diverse industries, including financial services, telecommunications, healthcare, insurance, retail and catalogue, automotive, manufacturing, leisure, utilities, e-commerce, property and government. A subsidiary of GUS plc with headquarters in Nottingham, UK, and Costa Mesa, California, more than 12,500 people in 28 countries worldwide support clients in more than 60 countries. Annual sales are in excess of £1.7 billion.
For more information, visit the company’s website on www.experian.com.
The word ‘Experian’ is a registered trademark in the EU and other countries and is owned by Experian Ltd and/or its associated companies.
QAS is an international provider of data accuracy and identity management solutions. Its QuickAddress software helps organisations holding data on prospects, customers, suppliers, employees or distribution networks to benefit from efficiency gains and cost savings through accurate address data capture and the management of data integrity over time. QAS supports more than 9,500 customers worldwide across all industry sectors. QAS is a wholly owned subsidiary of Experian, the global information solutions company. Visit QAS on the web at www.qas.com.
Eiger Systems develops payment solutions to meet the requirements of leading organisations worldwide. Focusing on the specific challenges of bank account validation and payment processing, Eiger Systems’ solutions help organisations control costs, reduce risks and improve customer service through the minimisation of payment errors. Visit Eiger Systems on www.eiger.co.uk.