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Web 2.0 Applications a Giant Leap Forward for Online Cash Management According to IDC Financial Insights and Actuate Corporation

Actuate Corporation (NASDAQ: ACTU), the leader in delivering Rich Internet Applications Without Limits™, today announced the availability of a new IDC Financial Insights whitepaper titled "Rich Internet Applications for Online Cash Management: A Taste of Web 2.0”, which examines the critical role that rich internet applications (RIAs) play in transforming online cash management solutions. In an effort to meet clients’ needs for streamlined reporting processes, more actionable information and greater control over their cash management applications, financial institutions are beginning to deploy Web 2.0 technologies to replace standard information reporting solutions that have become costly to maintain and unsatisfying to their clients. By building and enhancing information delivery using RIAs, banks can take a major step to improve portal capability and features.

The Financial Insights paper highlights how RIAs are helping banks to answer the market’s call for highly interactive online services while giving them an invaluable 360-degree view of their clients and providing tools to differentiate their offerings. The report examines the current state of the bank IT environment and discusses why banking, particularly in the area of cash management, has lagged behind other industries in adopting Web applications. It offers insight into how organisations can create meaningful and dynamic online experiences for their customers.

“RIAs and their application to information reporting are among the most significant initiatives for corporate bankers today,” said Jeanne Capachin, Research Vice President, Global Banking and Insurance Practices at Financial Insights, an IDC Company. “Banks have made advances in payments processing and financing capabilities, but the Web has traditionally been neglected. This has become a pressing problem, as it is through their information delivery services that banks most frequently interact with clients. The institutions that can master Web 2.0 applications and deliver the vision to their clients will have a first-mover advantage in the marketplace.”

“Most corporate online banking teams are now in the process of scoping requirements for next-generation treasury portals. These teams have looked to the consumer online market as a whole, and more specifically to their consumer online banking peers for guidance on delivering a practical Web 2.0 solution to corporate clients,” said Todd Paoletti, Senior Director of Online Channel Solutions at Actuate. “It’s very clear that corporate customers have spoken loudly and are demanding a better information delivery environment to support more efficient analysis and decision-making. The world’s leading banks are rapidly deploying rich internet applications to replace static information reporting. This functionality will go a long way toward satisfying customer demand, while at the same time positioning these organisations as market leaders.”