Paris | Mumbai: The Council of Europe Development Bank (CEB) has partnered with Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) to transform its reconciliation operations using TCS BaNCS for Reconciliations, a next-generation AI-powered platform that delivers operational accuracy, speed, and transparency.
This strategic collaboration will strengthen the CEB’s capacity to manage growing transaction volumes while improving efficiency and compliance.
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Headquartered in Paris, the Council of Europe Development Bank is a leading multilateral financial institution focused on social development and inclusion across its 43 member states. To support its expanding portfolio of high-value projects in education, healthcare, and affordable housing, the bank is modernizing its core financial processes with digital automation.
The deployment of TCS BaNCS for Reconciliations will:
- Automate the end-to-end reconciliation lifecycle
- Enable real-time transaction matching and exception handling
- Streamline file processing and reduce manual interventions
- Offer seamless integration with core banking systems
- Improve auditability and reporting for unmatched transactions
“Automation with high STP is critical to reducing risk and increasing operational efficiency,” said Stefano Michelangeli, Head of Finance and Risk Systems at CEB. “TCS BaNCS will help us achieve secure, auditable, and efficient processing – aligned with our Strategic Framework 2023–2027.”
TCS BaNCS is a scalable, AI-driven platform tailored for banks handling complex, high-volume transactions. Its cognitive reconciliation engine, intuitive dashboards, and cloud-ready architecture enable seamless processing across hybrid environments, ensuring compliance with SWIFT ISO 20022 standards.
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“We’re proud to partner with the Council of Europe Development Bank in their digital transformation journey. With TCS BaNCS, CEB will unlock greater agility and scale in operations,” said Venkateshwaran Srinivasan, Global Head – Financial Solutions, TCS.
This collaboration strengthens TCS’s longstanding presence in Europe, where it supports over 80 leading French enterprises and operates four delivery centers across Paris-Suresnes, Lille, Poitiers, and Toulouse. TCS has consistently been ranked #1 in customer satisfaction across Europe by Whitelane Research.
