Council of Europe Development Bank Collaborates with TCS for AI-Driven Reconciliation

In a significant advancement toward operational efficiency, the Council of Europe Development Bank (CEB) has partnered with Tata Consultancy Services (TCS) to implement TCS BaNCS™ for Reconciliations. This collaboration aims to streamline complex transaction management and enhance reconciliation processes through artificial intelligence (AI) and automation. The agreement was announced on June 16, 2025, marking a pivotal step for the CEB in improving its operational capabilities across its 43 member states.

The CEB, headquartered in Paris, functions as a multilateral development bank with a social mandate, focusing on financing social projects in sectors such as education, health, and affordable housing. As stated by Stefano Michelangeli, Head of Finance and Risk Systems at the CEB, "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."

The deployment of TCS BaNCS™ for Reconciliations will automate the entire reconciliation lifecycle, including transaction matching, exception handling, investigation, and reporting. By integrating this solution with the bank's core systems, the CEB anticipates improved control and expedited daily reconciliations. Additionally, the solution will facilitate the automation of critical tasks such as file loading and the extraction of PDF statements, which are essential for managing unmatched entries efficiently.

According to Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, this partnership not only enhances the efficiency of the bank’s operations but also underscores TCS’s commitment to supporting social and economic development across Europe. TCS BaNCS™ is recognized for its intelligent, centralized, and scalable framework that optimizes reconciliation processes, making it a fitting choice for the CEB's growing transaction volumes.

The CEB's commitment to social inclusion and economic growth aligns with its Strategic Framework 2023-2027, which emphasizes the importance of technological advancements in achieving its objectives. TCS’s advanced AI-driven platform will provide the bank with the tools necessary to navigate the complexities of modern financial environments while ensuring compliance with global standards such as SWIFT ISO 20022.

In recent years, TCS has significantly expanded its footprint in Europe, establishing four delivery centers across France and serving over 80 major French companies. This collaboration with the CEB not only enhances TCS's presence in the region but also exemplifies its capability to deliver cutting-edge technology solutions to financial institutions.

As the CEB continues to finance essential social projects, the successful implementation of TCS BaNCS™ is expected to play a crucial role in its ability to efficiently manage and scale its operations. The integration of AI and automation in reconciliation processes highlights a broader trend in the financial sector, where organizations increasingly seek to leverage technology for better operational outcomes. Overall, this partnership marks a significant milestone in the ongoing evolution of banking technologies and their application in fostering social development.