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Reconciliation, Reimagined—TCS and CEB (Council of Europe Development Bank) Team Up to Automate the Back Office

Updated: June 16, 2025 16:29

Tata Consultancy Services (TCS) has partnered with Council of Europe Development Bank (CEB) in a strategic partnership to accelerate transformation and modernize its financial reconciliation processes. The partnership will utilize TCS BaNCS for Reconciliations, an AIdriven, cloudbased platform to automate and simplify complex financial processes in institutions.
 
Key Highlights:
  • Transformation Scope: The partnership is to replace CEB's legacy systems for reconciliation with a centralized, intelligent platform for realtime matching, exception management, and audit trails.
  • AI and Automation: TCS BaNCS features cognitive automation, customized dashboards, and API connectivity to enable faster, errorfree reconciliation in cash, securities, derivatives, and collateral.
  • CloudFirst Strategy: The product is implemented both onpremise and via cloud, with scalability and affordability for institutions processing large volumes of transactions.
  • Control and Compliance: As regulatory pressure continues to rise, the platform provides endtoend traceability and visibility, enabling CEB to respond to changing compliance requirements.
  • Global Footprint: TCS BaNCS for Reconciliations is already deployed in a number of international financial institutions, further cementing the leadership position of TCS in financial services transformation.
This partnership is merely a step further for TCS in its growing presence in the European financial industry, as institutions seek to transform core functions without compromising control or compliance.
 
Sources: TCS.com, TCS BaNCS Reconciliations Overview, Economic Times Tech

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