+
TCS, CEB Partner to Modernise Bank Reconciliation with AI Tools
ECONOMY & POLICY

TCS, CEB Partner to Modernise Bank Reconciliation with AI Tools

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global IT services leader, has partnered with the Council of Europe Development Bank (CEB) to modernise its operations and enhance process efficiency. Through this collaboration, TCS will implement its flagship solution, TCS BaNCS™ for Reconciliations, to help the bank automate reconciliation processes using artificial intelligence and intelligent automation. 

The platform will enable CEB to automate its entire reconciliation workflow—from transaction matching and exception handling to investigations and reporting. It is designed to improve transparency and reduce manual workloads, offering real-time insights and faster daily reconciliations. Seamless integration with core banking systems will support better oversight and allow the automation of tasks such as file uploads, PDF statement extraction, and unmatched entry reconciliation.

Headquartered in Paris, CEB plays a pivotal role in financing social development across its 43 European member states. It supports investments in sectors like healthcare, education, and affordable housing, with a strong emphasis on serving vulnerable communities. Given its large and growing loan portfolio, the bank requires a robust system to manage complex transactions across numerous accounts—one that TCS BaNCS is well-suited to provide. 

Stefano Michelangeli, Head of Finance and Risk Systems at CEB, said: 

“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... 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.” 

 TCS BaNCS for Reconciliations is a scalable, intelligent platform tailored for financial institutions handling high volumes of transactions. It leverages AI and machine learning to deliver efficient transaction matching, exception management, and real-time analytics. Key features include a cognitive reconciliation engine, API integration, online archiving, mobile accessibility, and support for both on-premises and cloud deployments. It also ensures compliance with global standards such as SWIFT ISO 20022. 

 Venkateshwaran Srinivasan, Global Head, Financial Solutions at TCS, stated: 

“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...” 

 This engagement further strengthens TCS’s presence in Europe, where it has operated for over 45 years with a workforce of more than 15,000 professionals. TCS supports over 80 major French companies across industries including banking, retail, insurance, and travel. The company has also invested in France by setting up delivery centres in Paris-Suresnes, Lille, Poitiers, and Toulouse. 

 TCS’s long-standing excellence in client service was reaffirmed in the 2025 Whitelane Research Survey, where it was ranked #1 for the 12th year in a row by over 2,300 CXOs from leading IT-spending companies in Europe. 


Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global IT services leader, has partnered with the Council of Europe Development Bank (CEB) to modernise its operations and enhance process efficiency. Through this collaboration, TCS will implement its flagship solution, TCS BaNCS™ for Reconciliations, to help the bank automate reconciliation processes using artificial intelligence and intelligent automation. The platform will enable CEB to automate its entire reconciliation workflow—from transaction matching and exception handling to investigations and reporting. It is designed to improve transparency and reduce manual workloads, offering real-time insights and faster daily reconciliations. Seamless integration with core banking systems will support better oversight and allow the automation of tasks such as file uploads, PDF statement extraction, and unmatched entry reconciliation. Headquartered in Paris, CEB plays a pivotal role in financing social development across its 43 European member states. It supports investments in sectors like healthcare, education, and affordable housing, with a strong emphasis on serving vulnerable communities. Given its large and growing loan portfolio, the bank requires a robust system to manage complex transactions across numerous accounts—one that TCS BaNCS is well-suited to provide. Stefano Michelangeli, Head of Finance and Risk Systems at CEB, said: “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... 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.”  TCS BaNCS for Reconciliations is a scalable, intelligent platform tailored for financial institutions handling high volumes of transactions. It leverages AI and machine learning to deliver efficient transaction matching, exception management, and real-time analytics. Key features include a cognitive reconciliation engine, API integration, online archiving, mobile accessibility, and support for both on-premises and cloud deployments. It also ensures compliance with global standards such as SWIFT ISO 20022.  Venkateshwaran Srinivasan, Global Head, Financial Solutions at TCS, stated: “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...”  This engagement further strengthens TCS’s presence in Europe, where it has operated for over 45 years with a workforce of more than 15,000 professionals. TCS supports over 80 major French companies across industries including banking, retail, insurance, and travel. The company has also invested in France by setting up delivery centres in Paris-Suresnes, Lille, Poitiers, and Toulouse.  TCS’s long-standing excellence in client service was reaffirmed in the 2025 Whitelane Research Survey, where it was ranked #1 for the 12th year in a row by over 2,300 CXOs from leading IT-spending companies in Europe. 

Next Story
Infrastructure Transport

NHAI Invites Bids for Six-Lane Elevated Corridor Between Maduravoyal and Poonamallee

The National Highways Authority of India (NHAI) has floated tenders for the construction of a six-lane elevated corridor between Maduravoyal and Poonamallee, marking the first phase of the proposed 23.2-km elevated highway to Sriperumbudur along the Bengaluru–Chennai Expressway.The 8.14-km stretch, to be executed under the hybrid annuity model at an estimated cost of Rs 12.41 billion, will run from the Maduravoyal cloverleaf interchange to the Chennai Outer Ring Road near Poonamallee. The project includes junction improvements at NH-48.Officials said the corridor will feature a two-level clo..

Next Story
Infrastructure Transport

Second Hebbal Flyover Loop to Open by November

Karnataka Deputy Chief Minister DK Shivakumar on Monday announced that the second loop of the Hebbal flyover, connecting Esteem Mall to Mekhri Circle, will be operational by November. The new addition is part of a larger effort to ease traffic congestion at one of Bengaluru’s busiest junctions.The announcement came as Shivakumar inaugurated a new flyover loop connecting Outer Ring Road to Bellary Road. Built at a cost of Rs 800 million, the 700-metre ramp increases the number of lanes on the Hebbal flyover from two to six. Once the second loop is completed, the total project cost will reach ..

Next Story
Infrastructure Transport

PM to Inaugurate Aunta–Simaria Highway Project with Six-Lane Ganga Bridge

Prime Minister Narendra Modi will inaugurate the 8.15-km Aunta–Simaria highway project on NH-31 in Bihar tomorrow. The project includes a 1.86-km six-lane extradosed cable-stayed bridge across the Ganga, constructed at a cost of over Rs 18.70 billion. The new link will connect Mokama in Patna district with Begusarai, easing traffic congestion and reducing travel distances for heavy vehicles that were earlier diverted due to the closure of the old Rajendra Setu.With a width of 34 metres and advanced design features, the bridge is one of India’s widest of its kind and is built to withstand h..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?