TCS Joins Hands with CEB to Streamline Financial Operations

Tata Consultancy Services (TCS) has partnered with the Council of Europe Development Bank (CEB), headquartered in Paris, to streamline the bank’s complex financial transactions. As part of this collaboration, TCS will implement its AI-driven solution, TCS BaNCSTM for Reconciliations, to automate and modernise CEB’s reconciliation processes and increase operational transparency, efficiency, and control.

Why in News?

The collaboration between TCS and the CEB is significant for several reasons: It showcases India’s IT leadership in global financial transformation. It introduces AI and automation into core banking functions of a major European development bank. It aligns with CEB’s mission of improving operational efficiency to support social development projects across Europe.

About the Partnership

  • Partners Involved: TCS (India) and the Council of Europe Development Bank (CEB, Paris).
  • Objective: To modernise and automate the bank’s reconciliation operations.

Features & Benefits

  • Automation Across the Lifecycle
  • Transaction Matching
  • Exception Handling
  • Investigation
  • Reporting

Integration

  • Seamlessly integrates with CEB’s core banking systems.
  • Enables faster and more accurate daily reconciliations.

Technology Edge

  • Leverages artificial intelligence and automation.
  • Offers real-time visibility and reduced turnaround time.

Benefits

  • Less manual effort
  • Greater transparency
  • Enhanced control over operations
  • Improved decision-making through timely data

About the Council of Europe Development Bank (CEB)

  • Headquarters: Paris, France
  • Established: 1956
  • Members: 43 European countries
  • Mission: Promote social inclusion and development, focusing on sectors like education, public health, and housing.
Summary/Static Details
Why in the news? TCS Joins Hands with CEB to Streamline Financial Operations
Organization Tata Consultancy Services (TCS)
Client Council of Europe Development Bank (CEB), Paris
Purpose Automate reconciliation processes and modernise operations
Technologies Used Artificial Intelligence (AI), Automation
Key Benefits Transparency, reduced manual effort, real-time reporting, faster controls

 

Shivam

Recent Posts

Top-10 Tax Free Countries in the World in 2025, Check the List

In today's world, taxes take up a big part of our income in most countries.…

39 mins ago

Where Is Kamchatka Peninsula? Why Is It Prone to Earthquakes and Tsunamis?

Introduction Kamchatka is a vast, wild, and geologically remarkable peninsula in the Far East of…

1 hour ago

Top-10 Largest Companies of India by 2025, Check the List

In 2025, India's biggest companies continue to show their strength both at home and around…

2 hours ago

List of Strongest Earthquakes in the World Ever Recorded

Earthquakes are among the most powerful natural disasters on Earth, capable of shaking the ground,…

4 hours ago

A Journey Of Five Years of the National Education Policy (NEP) 2020

The National Education Policy (NEP) 2020, India’s third education policy since Independence, was introduced as…

5 hours ago

What is Tsunami? – Definition & Overview

What is a Tsunami? – Definition & Overview A tsunami is a series of huge…

5 hours ago