The expanded relationship will deliver next generation online reporting and analysis for consistent multi-channel customer experience and unified customer insight to both IBM and Actuate's banking customers.

Banks are currently facing several challenges within their front office operations to serve an increasingly demanding and informed customer base. Actuate and IBM aim to deliver applications that improve the customer experience by empowering personnel with actionable client information, increasing customer satisfaction and retention rates, providing value added services to the online channel, and reducing operating costs via higher online channel adoption. An equally important goal of the relationship is to maximize the value banks derive from multi-channel banking by providing a unified customer view, maximizing cross-selling opportunities across channels and delivering better segmentation, so that banks can offer the right service at the right time. Actuate has been selected amongst a handful of preferred banking solution partners which IBM will take to market for front office strategic banking solution initiatives. The types of front office solutions that can be delivered to customers include:

• Online channel reporting and analysis
• Broker portals
• Branch loan reporting and& analysis
• Online account statementing
• Cash management reporting
• Client reporting

"There is a tremendous market opportunity for enhanced reporting solutions, multi-channel and customer-insight initiatives within the banking sector," said Mark Greene VP for Financial Services at IBM. "Actuate's track record for addressing mission critical business issues for the top financial institutions makes it an excellent fit for IBM's Strategic Banking Partner Program."

"Being chosen amongst a select list of vendors to be part of IBM's Banking Practice is a testament to Actuate's strength in the banking sector," said Pete Cittadini, president and CEO of Actuate Corporation. "Four of the top five US-based global banks are committed to Actuate for front office reporting applications and we expect our partnership with IBM to further strengthen our appeal within this vertical."