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Experian scoops up Eiger Systems

Interesting to see that Experian (opens in new tab), one of the UK's three main credit checking bureaus, has acquired Eiger Systems (opens in new tab), a company that specialises in bank account validation and payment processing software.

I never realised it before (how naive is that?-Ed) but when you give your bank account details for direct debit purposes, an increasing number of organisations validate your account details in real time.

Eiger Systems, which was only founded back in 1997, has around 80 staff at its Rugby HQ and has more than 1,000 organisations, including - apparently - more than a third of the FTSE 100 top companies, on its books.

Experian says (opens in new tab)that the acquisition strengthens it credit data portfolio and will allow it to offer a better range of services to its client companies.

Hmmm - by that I take it that, when you sign up for a service on direct debit there's an increased risk of your being credit checked at the same time.

And when you are being credit checked, there's a danger of your bank account details being made available to the company your are being credit checked by. Even though that company doesn't actually need that information.

Civil liberties anyone?...