1 Release Highlights

This topic lists the highlights of release enhancements.

The rationale for the product release of Oracle Banking Origination Release 14.9.0.0.0 is to enhance 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. Pricing Enhancements

    AER/APY/APR Display Configuration provides a centralized configuration to control the visibility of AER/APY (liabilities) and APR (loans), replacing the region-specific configuration.

  7. Disclosures and Agreements
    • Pre‑contractual Disclosures for Overdrafts and Loans capability to generate and dispatch of required disclosures at the early stage of CASA overdraft and loans originations.
    • Overdraft and Loan Agreements now use market-specific templates generated at offer issuance, with built-in enforcement of cooling-off periods.
  8. Onboarding and Verification
    • Minor Onboarding Controls: Age verification, guardian or joint-holder enforcement, and mode-of-operation rules are now controlled through Origination Preferences.
    • Verification Framework enables definition of verification types, policies, and rule-based validations, supports verification segments to plug at any stages, and provides for manual and external verification with a complete audit trail.
    • Digital Banking Enablement for New Customers: A streamlined one-click opt-in in Origination enables digital channel onboarding through host event integration.
  9. Address, Documents, and Privacy
    • Address Standardization has been enhanced to support structured, hybrid, and unstructured formats.
    • Inbound Documents supports category and policy-based configuration with event or stage rules, displays only relevant documents, is accessible through Global Actions.
    • PII Masking: Automatically masks sensitive identifiers from individual and business ID documents when they are captured or uploaded.
  10. Collateral and Vehicle Lending
    • Estimated Market Value for Existing Collateral enables to capture EMV for reused collateral, automatically recalculates collateral linkages, and includes the value in LVR or assessment calculations.
    • Configurable Parameters for Collateral introduced the "Enable Fetch Vehicle Details" option and default setting for valuation mode, charge type, and seniority.
    • Vehicle Collateral Capture Enhancements focus on the vehicle fields with automated (third‑party) or manual valuation, along with preference‑driven UI and tracking.
    • Single-Stage Vehicle Loan: The INSTAVEHICLELOAN process now supports a streamlined end-to-end flow with upfront automated valuation and accelerated account creation.
  11. Stress and Affordability Test (Loans) enables users to generate Account, Stress, and Affordability repayment schedules using loan, stage and interest details from existing segments. All schedules are stored for underwriting and compliance purposes, with margin exclusivity enforced, and both Stress and Affordability schedules are required before proceeding.
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
  7. Regulatory and Disclosures
    • Adverse Action Notice: Bureau rejection codes are now mapped to maintained reason codes, and notices are populated with the corresponding descriptions.
    • Regulation Z Identification: Identifies covered accounts to ensure proper disclosures and validation of APR and applicable fees.
    • TISA Disclosures: Capability to generate and display TISA disclosures during the Application Documents stage for Savings, IRA Savings, MMSA, and IRA MMSA accounts.
    • E-Sign Agreement (Consent-Based): The e-sign agreement is generated and dispatched in the Application Documents stage only when the consent is enabled.
  8. Applicant and Eligibility Controls
    • Minor Onboarding: The onboarding process for minors now allows emancipated minors to open accounts independently, whereas non-emancipated minors require a custodian, guardian, or joint holder.
    • ECOA Multi-Applicant Validations: System now enforces marital status and gender validation rules for every applicant in multi-applicant cases.
    • Service Member Active-Duty Records must now be captured with unique identifiers, which are available for selection and are sent to the host for active-duty benefits processing.
  9. Repayment and Offer Advice
    • Holiday Treatment for Repayment Schedules: Due dates are automatically adjusted based on the host holiday calendar and product configuration.
    • Rescission Clause in Loan Offer Advice: Introduced configurable options for clause type, period, and trigger at the product and segment levels.
  10. Fees, Insurance, and Event Mapping
    • Event Linking to Fees: Each fee or charge now displays its associated mapped event in the host product configuration.
    • Fee-to-Event Mapping: Ensures fees apply at the appropriate stage, with capitalization limited to the Disbursement event.
    • Insurance Configuration: Treats insurance as a configurable component with codes, descriptions, or events retrieved from Oracle Banking Retail Lending Servicing.
    • Insurance Collection: Enables collection of insurance amounts at mapped lifecycle events and supports multiple insurance components.
  11. Products and Operations

    Loan Against Deposit: Enables loan against a single deposit account from Oracle Banking Accounts with interest rates sourced from Oracle Banking Retail Lending Servicing.

  12. Tax and Identification
    • Tax Panel Date Validations: The system enforces date range checks, requires Certification only when the TIN status is set to Certified, and the W-8 End Date is allowed only if Start Date is specified.
    • TIN-Based Search in Application Tracker: Search the TIN using SSN, EIN, ITIN, or ATIN (with or without hyphens), and displays TIN in the search results only for US users.