The Council of Europe Development Bank (CEB), headquartered in Paris, has partnered with India-based Tata Consultancy Services (TCS) to modernize its reconciliation systems using TCS Bancs and AI.
The Council of Europe Development Bank (CEB) has partnered with Tata Consultancy Services (TCS), the Indian IT services giant, to modernize its reconciliation operations by deploying the AI-powered platform TCS Bancs for Reconciliations.
Founded in 1956 and headquartered in Paris, the CEB functions as a multilateral development bank with a strong social mandate. It supports member states of the European Union in financing projects that enhance social infrastructure, including sectors like healthcare, education, and housing.
This new digital move will enable CEB to automate the end-to-end reconciliation lifecycle — from data ingestion and statement parsing to real-time resolution of mismatches. The solution is designed to handle high-value transactions and ensure transparent, auditable reporting outcomes.
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 CEB.
The collaboration places CEB among more than 80 France-based organizations already working with TCS, further bolstering the tech company’s footprint in the European financial sector. TCS recently expanded its client base with financial institutions like Sweden’s Ikano Bank, the UK’s Cumberland Building Society, and the Bank of Bhutan.
The integration of AI in core banking and reconciliation operations underscores a growing trend among development banks and financial institutions toward smarter, more efficient finance operations.
