TCS to Transform Council of Europe Development Bank's Reconciliation Processes

Tata Consultancy Services (TCS) has partnered with the Council of Europe Development Bank (CEB), to modernise its operations and drive greater efficiency.

As part of this collaboration, TCS will deploy TCS BaNCS^TM for Reconciliations to help the bank streamline complex transactions and automate key reconciliation processes using artificial intelligence and automation.

With the implementation of TCS BaNCS for Reconciliations, the CEB will be able to automate the entire reconciliation lifecycle—from transaction matching and exception handling to investigation and reporting.

The product will provide real-time visibility and greater transparency, while reducing manual effort and turnaround times. Its integration with the bank’s core systems will allow for better control and faster daily reconciliations. 

The Bank will also be equipped with the tools needed to automate critical tasks such as file loading, extraction of PDF statements, and reconciliations for unmatched entries.

“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,” Stefano Michelangeli, Head of Finance and Risk Systems at the CEB, said.

TCS BaNCS for Reconciliations is an intelligent, centralised, and scalable product that helps banks manage reconciliations end-to-end. By leveraging artificial intelligence and machine learning, it enhances accuracy and automates key processes such as transaction matching, exception handling, and case management.

The product is highly scalable and reliable, making it suitable for banks handling large volumes of transactions. It features a cognitive reconciliation engine, enhanced pre-processing capabilities, online archiving, API integration, and mobile support, and is available for both on-premises and cloud deployment.

Its flexible, intelligent design enables seamless automation across systems without the need for manual checks or intervention, helping reduce errors, speed up operations, and lower processing costs.

“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,” Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said.