diff --git a/docker-compose.yml b/docker-compose.yml
index 5c775a42b4b..eed8f9f1eee 100644
--- a/docker-compose.yml
+++ b/docker-compose.yml
@@ -22,7 +22,7 @@ version: '3.7'
 services:
   # Backend service
   fineractmysql:
-    image: mysql:5.7
+    image: mysql:8.1
     volumes:
       - ./fineract-db/docker:/docker-entrypoint-initdb.d:Z,ro
     restart: always
diff --git a/eng/environments/common.sh b/eng/environments/common.sh
index 1d25047e9ed..9b1e69cfa61 100644
--- a/eng/environments/common.sh
+++ b/eng/environments/common.sh
@@ -1,6 +1,6 @@
 #!/bin/bash
 
-CURR_VERSION="1.7.0"
+CURR_VERSION="1.14.0"
 TARGET_CONTAINER_REG="ghcr.io"
 TARGET_ORG="velocitynetworkfoundation"
 TARGET_REPO="packages"
diff --git a/fineract-provider/src/main/java/org/apache/fineract/portfolio/savings/domain/SavingsAccountTransaction.java b/fineract-provider/src/main/java/org/apache/fineract/portfolio/savings/domain/SavingsAccountTransaction.java
index 79e09747e59..3dc633d007a 100644
--- a/fineract-provider/src/main/java/org/apache/fineract/portfolio/savings/domain/SavingsAccountTransaction.java
+++ b/fineract-provider/src/main/java/org/apache/fineract/portfolio/savings/domain/SavingsAccountTransaction.java
@@ -90,7 +90,7 @@ public final class SavingsAccountTransaction extends AbstractPersistableCustom {
     @Column(name = "running_balance_derived", scale = 6, precision = 19, nullable = true)
     private BigDecimal runningBalance;
 
-    @Column(name = "cumulative_balance_derived", scale = 6, precision = 19, nullable = true)
+    @Column(name = "cumulative_balance_derived", scale = 6, precision = 30, nullable = true)
     private BigDecimal cumulativeBalance;
 
     @Temporal(TemporalType.DATE)
diff --git a/fineract-provider/src/main/resources/sql/migrations/core_db/V1029__increase_cumulative_balance_precision.sql b/fineract-provider/src/main/resources/sql/migrations/core_db/V1029__increase_cumulative_balance_precision.sql
new file mode 100644
index 00000000000..8550afe8db4
--- /dev/null
+++ b/fineract-provider/src/main/resources/sql/migrations/core_db/V1029__increase_cumulative_balance_precision.sql
@@ -0,0 +1,20 @@
+--
+-- Licensed to the Apache Software Foundation (ASF) under one
+-- or more contributor license agreements. See the NOTICE file
+-- distributed with this work for additional information
+-- regarding copyright ownership. The ASF licenses this file
+-- to you under the Apache License, Version 2.0 (the
+-- "License"); you may not use this file except in compliance
+-- with the License. You may obtain a copy of the License at
+--
+-- http://www.apache.org/licenses/LICENSE-2.0
+--
+-- Unless required by applicable law or agreed to in writing,
+-- software distributed under the License is distributed on an
+-- "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY
+-- KIND, either express or implied. See the License for the
+-- specific language governing permissions and limitations
+-- under the License.
+--
+
+ALTER TABLE m_savings_account_transaction MODIFY COLUMN cumulative_balance_derived DECIMAL(30,6);