1. Release Notes
  2. Release Highlights

1 Release Highlights

This topic list teh highlights of release enhancements.

The rationale for the product release of Oracle Banking Origination Release 14.7.1.0.0 is to further enhance the origination features of the existing products supported such as Savings Accounts, Current Accounts, Credit Cards, Term Deposits and Loans and help improve the competitiveness of our product in the market.

Following are the features included in the release along with forward porting of applicable fixes related to the incidences reported in previous versions and technical qualification to comply with approved Tech Stack.

  • Insta Personal Loans
  • Rejection Advice generation for all Product originations.
  • Financial Details Enhancements.
  • Liability Creation process moved to CFPM.
  • Ability to maintain Questionnaire to render consent response.
  • Ability to do debit assessment for Checking and Savings Account Origination for Individual party types.
  • Ability to define add/modify/delete state codes which are mapped to a country.
  • Generate welcome letter for deposit products.
  • Ability to capture the customer consent and preferences for each applicant in a joint account.
  • Guardian consent for Minor Account.
  • Ability to calculate majority date for minor customers based on configured rule.
  • Customer consent email preference, phone number & fax details capture.
  • Ability to capture Terms and Conditions for a product.
  • Ability to capture Guardian relationship type with the minor and a preferred flag for guardian.
  • Ability to mandatorily capture one preferred ID type.
  • Ability to validate that all the Terms and Conditions have been accepted before proceeding with account opening.
  • Ability to capture the option to fund the account post account opening.
  • IPA Offer letters – viewing enabled in Self-service channel.
  • Product origination allowed based on Customer Category / Type.
  • Self-service channel integration for SMB Savings & Current Accounts.
  • Fetching of Existing Customer Details – ID details when onboarded from OBO and reused as existing customer for a product new origination.
  • Fetching of Consent & Preference details for existing Customer Details - when onboarded from OBO and reused as existing customer for a product new origination.
  • APR details made available for product processor consumption.
  • Credit Card – Addon Card holder details now has the details of Preferred ID details and uploading of Supporting document feature.
  • Stake holder details capture in OBO origination now available seamlessly in Party module.
  • Dynamic display of Questionnaire.
  • Regional Frame-work requirements (US) – implementation of dynamic changeover of UI screens which are user enabled based on the entities (default / US) for rendering of UI elements based on region specific flows.
  • Address Search and auto population of address details based on selection.
  • External Refinance feature.
  • Ability to configure/define the applicability of Solicitor and Conditions & Covenants for each of the lending products.
  • Configuration of allowed parties (applicant role) in the preferences section of Business Products.
  • Capturing of ownership details for all type of collateral available in OBO and pushing of this data to the consuming applications. Collateral Summary details in Perfection Details DS.
  • Origination Preference configuration – Bank level configuration moved from Properties table to a maintainable UI workflow.
  • Ability to integrate with OBA product processor.
    • Business Product – OBA host Product mapping validation of Interest and Charges details
    • Business Product Preference UI refresh to accommodate fetch and display of Banking channel preferences as configured in OBA.
    • The Account approval submit stage will now include Customer Information details required to be stored at Account Level to be push through the transformation layer and consumption by the underlying product processor – OBA.
  • OBO has replaced ALTA theme to Redwood theme.
  • OBO replaces Zuul with spring-cloud-gateway, Spring Oauth version to update Api-gateway.
  • Implemented remote caching solution for static/dynamic data using Oracle Coherence.