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TCS partners with CEB to modernise bank's reconciliation systems

Tata Consultancy Services (TCS) has partnered with the Council of Europe Development Bank (CEB) to modernise and automate the bank's reconciliation processes. TCS will implement its TCS BaNCS for reconciliations platform, leveraging artificial intelligence and automation to streamline complex transactions, improve transparency, and reduce manual effort, according to a regulatory filing. The new solution will automate the entire reconciliation lifecycle, providing real-time visibility and faster processing for the CEB. "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," Venkateshwaran Srinivasan, Global Head - Financial Solutions at TCS, said. *** HCLTech partners with European energy firm * HCLTech has entered a multi-year strategic partnership with European energy firm Under the agreement, HCLTech will establish a private cloud and manage cloud and network operations globally for hyperscalers, leveraging AI and hyperautomation to accelerate its DevOps-led transformation, according to a company statement. The collaboration aims to enhance operational efficiency, innovation, and agility in responding to market demands.