TCS & Council of Europe Development Bank automate reconciliation
Tata Consultancy Services has entered into a partnership with the Council of Europe Development Bank to automate and advance its reconciliation processes through artificial intelligence-driven technology.
Under this agreement, Tata Consultancy Services (TCS) will implement its TCS BaNCS for Reconciliations platform, aiming to facilitate the management of complex transactions and bring greater automation to workflows at the Council of Europe Development Bank (CEB).
The collaboration seeks to support the CEB in handling its expanding transaction volumes while enhancing operational efficiency and transparency within its European operations.
Automating reconciliation
TCS BaNCS for Reconciliations will allow the CEB to automate the entirety of its reconciliation lifecycle. This covers transaction matching, exception handling, investigation, and reporting. With real-time visibility and reporting, the bank expects reduced manual effort and processing times. The product's integration with core banking systems is designed to enable improved oversight and expedite daily reconciliations.
Operational tasks such as loading files, extracting statements from PDFs, and reconciling unmatched entries are also set to be automated through this deployment, facilitating more robust controls in the bank's procedures.
Supporting CEB's mandate
The CEB, headquartered in Paris, finances social sector investments and provides technical assistance to 43 member states across Europe. Its portfolio encompasses billions of euros in loan approvals, spanning sectors such as education, health, and affordable housing. Recipients of CEB funding include governments, public and private banks, non-profit organisations, and more. The volume and complexity of its transactions necessitate advanced reconciliation capabilities.
Stefano Michelangeli, Head of Finance and Risk Systems at the CEB, outlined the strategic importance of this initiative for the bank's mission.
"The CEB has a clear mandate to enhance social development among its member countries by leveraging technology. A reliable, robust and secure reconciliations solution has been key to this vision. Automation in reconciliation with high STP (Straight-Through Processes) is central to ensuring error-free operations for institutions such as ours. With TCS BaNCS for Reconciliations, we will be able to eliminate manual reconciliations processing and reporting, for transparent, auditable outcomes, especially, for high-value transactions. By improving the overall efficiency of operations, we can deliver on our larger vision of enhancing economic growth in the countries we service in line with our Strategic Framework 2023-2027."
The core features highlighted for TCS BaNCS for Reconciliations include a cognitive engine, improved pre-processing, an online archiving system, application programming interface (API) integration, and mobile support. The platform supports both on-premises and cloud-based deployments and meets international compliance standards, such as SWIFT ISO 20022.
Enhancing operational scale
TCS says its BaNCS solution leverages artificial intelligence and machine learning to automate processes including transaction matching, exception handling, and case management. The platform's design is intended to enable banks to reduce errors, accelerate processing, and lower associated costs.
Venkateshwaran Srinivasan, Global Head, Financial Solutions at TCS, commented on the partnership and its alignment with both organisations' objectives:
"We are happy to partner with an organisation like the CEB and support its strategic goal of improving social and economic development in its member states. With the deployment of TCS BaNCS, the CEB will be able to gain significant efficiency in operations, which gives the Bank the ability to operate on a higher scale. We continue to invest in products to help our clients enhance efficiency, improve customer experience and be future ready."
Continued presence in Europe
The partnership expands TCS's footprint in Europe, where it has operated for over 45 years and employs more than 15,000 staff. The company supports over 80 major French companies and maintains four delivery centres in Paris-Suresnes, Lille, Poitiers, and Toulouse. TCS was ranked number one for the 12th consecutive year in the 2025 Whitelane Research Survey among Europe's top IT spending companies.
The CEB maintains a triple-A credit rating and finances its operations through international capital markets and donor funding. The bank focuses on the needs of vulnerable populations, addressing issues in education, health, housing, and the social implications of climate change and environmental policies.
