1 Release Highlights

This topic lists the highlights of release enhancements.

The rationale for the product release of Oracle Banking Origination Release 14.8.1.0.0 is to improve the origination features of current products such as Savings Accounts, Current Accounts, Term Deposits, Loans, and Credit Cards and help improve the competitiveness of our product in the market.

This release includes features along with updates for issues that users reported in previous versions and technical qualifications to meet the approved Tech Stack.

  1. Application enhancements
    • Workflow simplification - reduced stages
    • Advanced address search for Solicitor details
    • Capturing Household relationship details during onboarding
    • E-sign consent for minors
  2. Dashboard and Widget Enhancements
    • Redesign the Application Search and My Applications widget
    • Redesign Conversion Analysis widget
    • Redesign Applications Nearing Expiration widget
    • Redesign Loan Offer Nearing Expiration widget
    • Redesign Loan Offer Status widget
    • Redesign SLA Status Summary widget
    • Redesign Stage-Wise Details widget
    • Redesign Account Opening Trends widget
  3. Product Recommendation, Loan Simulation, and Application Tracker Enhancements
    • Contextual navigation, status refresh and actions UI enhancements
    • Auto Expiry for Loan Simulation, Quick Assessment and Product Recommendation IDs
    • Upfront eligibility checks during product simulation
  4. Loan Application Improvements
    • Credit Appraisal Memorandum (CAM) for retail loans and overdrafts
    • Loan Against Deposit (LAD) enhancements
    • Dynamic Interest Payout options
    • Automatic Floating Rate Code fetching
    • Ensuring current interest rate alignment on Offer Issue during loan origination
    • Flexible and Accurate Loan Term update for inflight application
    • Accurate transmission of capitalized fees to Oracle FLEXCUBE Universal Banking
    • Expanded repayment options for billing loan accounts
    • Loan origination using existing collateral
    • Interest and Principal Installment Schedule support
    • Floor and Ceiling Rates
    • Account Identification for Fees Collection
    • Solicitor, Conditions & Covenants for SMB Loans
    • Defaulting Product Preferences from Host
  5. Secured Loan Application

    Origination of Secured Vehicle Loan

  6. AI - Driven enhancements
    • LLM-Powered Suggested Answers
    • AI-Generated Business Product Brochure
    • AI-Enabled Application Tracker
    • Smart Query Assistant
Features for US Region
  1. IRA Application Enhancements
    • Business Product Configuration of IRA Products
    • Origination of IRA Accounts (Savings and Certificate of Deposits)
    • Origination of IRA Money Market Savings Account
    • View Application Document for IRA Accounts
  2. Certificate of Deposits Application Enhancements

    Zero Balance Certificate of Deposits

  3. Money Market Savings Account Application Enhancements

    Origination of Money Market Savings Account

  4. Regionalization Enhancements
    • Currency and amount format standardization
    • Date format standardization and regionalization
    • Flexible ZIP Code entry for US addresses
    • Enhanced validation rules by TIN type and support for multiple TIN types in system
    • Conditional Country of Residence field
  5. Advices Improvements
    • Removal of place in all advice as part of signature panel for US region
  6. Application Enhancements
    • Insta Checking and Savings process for US Region
    • Alignment of advanced search with Oracle Banking Party
    • Workflow simplification – reduced stages