TCS partners with Council of Europe Development Bank to enhance reconciliation processes using AI
Tata Consultancy Services (TCS) has announced a strategic partnership with the Council of Europe Development Bank (CEB) to modernize and automate its reconciliation processes. As part of this initiative, TCS will deploy its AI-driven solution, TCS BaNCS for Reconciliations, aiming to streamline complex transactions and reduce turnaround times through end-to-end automation.
This collaboration will enable CEB to automate the full reconciliation lifecycle—from transaction matching and exception handling to investigation and reporting—bringing real-time visibility and transparency. The platform also supports automation of file loading, extraction of PDF statements, and handling of unmatched entries.
Headquartered in Paris, CEB is a social development bank working across 43 European member states, financing education, health, and housing initiatives for vulnerable communities. The bank's growing transaction volume necessitates a robust system, which TCS BaNCS addresses with scalability, real-time data handling, and compliance with global standards like SWIFT ISO 20022.
TCS stated that this partnership strengthens its presence in Europe, where it serves over 80 major French companies and operates four delivery centers. The company remains committed to enhancing operational efficiency and supporting institutions focused on inclusive development.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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