Current Affairs - Business - Discussion

Tata Consultancy Services (TCS), a leading Indian IT firm, has partnered with the Council of Europe Development Bank (CEB) to enhance the bank’s financial operations through automation and artificial intelligence. The partnership aims to modernise the reconciliation process using TCS BaNCSTM for Reconciliations, an advanced solution that automates transaction matching, exception handling, and reporting. This collaboration not only boosts efficiency and transparency in banking operations but also reflects the growing role of Indian technology in driving digital transformation in global financial institutions. The system will help reduce manual effort, improve decision-making, and align with CEB’s development-focused mission across Europe.