Oracle has announced general availability of the newest release of its flagship core banking application, Oracle FLEXCUBE V14.

The new release includes more than 1,200 new enhancements designed for a connected banking experience and new blockchain, machine learning adapters.

According to Oracle, FLEXCUBE V14 marks a significant milestone in its componentisation strategy.

Banks now have the choice of either deploying a pre-configured offering for a comprehensive solution or embarking on a progressive transformation journey, one line of business at a time.

Oracle says it now offers banks more choice than ever before to seamlessly integrate best-in-class functionality to their pre-existing architecture with specialised components for originations, collections, pricing, liquidity management, lending and payments.

To tap into the opportunities offered by Open Banking, FLEXCUBE V14 provides the advantage of more than 1,000 API’s to jump start initiatives.

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Banks using FLEXCUBE V14 have a head start in exploring innovative collaborative options to integrate with corporates, third party service providers, vendors, other banks and networks.

Oracle Financial Services Senior Vice President Chet Kamat said:” “In today’s connected world, banks need to seamlessly embed banking services across the lifecycle of a business as well as in the daily activities of the consumer.

“Banks need to transform their core banking applications to be able to bring in the intrinsic nimbleness of a modern application necessary to respond to this new paradigm.

“Oracle FLEXCUBE V14 is mission critical for any bank embarking on the path of digital transformation”