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22 out of the Top 25 Western European Banks Rely on Actuate

New listing confirms Actuate’s position as the Enterprise Reporting vendor of Choice for Western European Banks

Actuate Corporation (NASDAQ:ACTU), the world leader in Enterprise Reporting and Performance Management Applications that empower 100% of users to achieve breakthrough corporate performance, today announced that 22 out of the Top 25 Western Europe Banks (listing published by The Banker, 2006) rely on Actuate for their Enterprise Reporting Applications. These top 22 banks entrust Actuate technology to deliver real-time access to critical information in areas such as customer self-service, client reporting, prime brokerage and asset management.

“The Financial Services industry faces unique market pressures which they need to respond to by generating greater customer value through initiatives around transparency, regulatory compliance, and better customer service,” commented Actuate’s VP of EMEA, Vincent De Gennaro. “Actuate’s scaleable enterprise reporting solutions are repeatedly endorsed by the world’s largest financial services companies who have standardised on Actuate to underpin their reporting operations. This announcement of our European penetration is further testament to how successful that focus continues to be.”

Actuate responds to the exacting demands of its financial services clients by delivering scaleable, robust enterprise reporting solutions that deliver real-time access to the most up to date information to hundreds of thousands of users. This unique and highly scaleable application approach appeals to organisations for whom information is the primary asset and product and where sophisticated information collation and reporting offers real benefits in increased customer satisfaction, improved customer service and greater compliance. This year the financial services sector accounts for close to 50% of Actuate UK’s enviable blue-chip client roster and this successful market penetration is echoed in the US where 19 of the 21 financial services companies in the Fortune 100 are Actuate customers.

During 2006 Actuate has continued to provide in-depth analysis and research of key financial services regulations and a recent Actuate study into the use of spreadsheets amongst financial services companies, highlighted the risks that could ultimately damage both the reputation and profitability of the banks through extensive spreadsheet usage. This and other Actuate-led research is widely sourced and consistently positions Actuate at the forefront of information reporting initiatives in financial services.