Council of Europe Development Bank partners with TCS to modernize reconciliation operations

THEBUSINESSBYTES BUREAU

PARIS/MUMBAI, JUNE 16, 2025

Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, has announced a strategic partnership with the Council of Europe Development Bank (CEB) to streamline and modernize the bank’s reconciliation processes. Under this collaboration, TCS will implement its advanced solution—TCS BaNCS for Reconciliations—to automate complex transactions and enhance operational efficiency through the use of artificial intelligence and automation technologies.

With the deployment of TCS BaNCS for Reconciliations, the CEB aims to fully automate its reconciliation lifecycle, encompassing transaction matching, exception handling, investigation, and reporting. The solution will deliver real-time visibility, improve transparency, and significantly reduce manual interventions and turnaround times. By integrating seamlessly with the bank’s core systems, it will enable tighter control and accelerate daily reconciliations. Additionally, the platform will support automation of critical tasks such as file loading, PDF statement extraction, and handling of unmatched entries.

Headquartered in Paris, the CEB is a multilateral development bank that promotes social cohesion in its 43 member states across Europe. It provides financing and technical assistance for projects in sectors such as education, healthcare, and affordable housing—particularly targeting the needs of vulnerable communities. The Bank’s growing portfolio, which includes billions of euros in loan approvals, demands a robust and scalable reconciliation solution to manage increasing transaction volumes efficiently. TCS BaNCS for Reconciliations will play a pivotal role in strengthening the CEB’s capacity to handle this operational complexity.

Stefano Michelangeli, Head of Finance and Risk Systems at the CEB, said, “The CEB has a clear mandate to enhance social development across its member countries by adopting cutting-edge technology. A secure and intelligent reconciliations solution is critical to fulfilling this vision. Automating reconciliation with high STP (Straight-Through Processing) ensures error-free operations—vital for an institution like ours. With TCS BaNCS for Reconciliations, we can eliminate manual processes and achieve transparent, auditable outcomes, especially for high-value transactions. This operational uplift will help us realize our Strategic Framework 2023–2027 and support inclusive economic growth in the region.”

TCS BaNCS for Reconciliations is a centralized, scalable platform designed to manage end-to-end reconciliations for financial institutions. Leveraging AI and machine learning, the solution improves transaction accuracy and automates core processes including matching, exception resolution, and case tracking. Its cognitive engine, robust pre-processing features, and real-time dashboards enable banks to manage unreconciled transactions efficiently. With features such as API integration, online archiving, mobile accessibility, and support for both cloud and on-premises deployments, the platform ensures compliance with international standards such as SWIFT ISO 20022, while minimizing delays and exceptions.

Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, stated, “We are proud to partner with an institution like the CEB and support its mission to foster social and economic development across Europe. The adoption of TCS BaNCS will enable the bank to scale its operations with greater efficiency and resilience. TCS remains committed to investing in innovative products that empower our clients to enhance performance, elevate customer experience, and prepare for the future.”

This partnership also reinforces TCS’s long-standing presence in Europe, where the company has been operating for over 45 years and employs more than 15,000 professionals.

TCS supports a wide spectrum of industries, including banking, insurance, retail, and travel, and currently collaborates with over 80 leading French companies on digital transformation initiatives. In France, TCS has made strategic investments by establishing four delivery centers in Paris-Suresnes, Lille, Poitiers, and Toulouse. Recently, TCS was ranked #1 for the 12th consecutive year in the 2025 Whitelane Research Survey, which evaluated over 2,300 CXOs from top IT-spending organizations across Europe.