Bankloch

In the world of banking, there’s a well-known secret:   Mainframes and COBOL still power the majority of financial services . Despite wave after wave of digital transformation initiatives, these systems remain at the heart of core banking operations and for good reason. Banks have invested massively in mainframes and COBOL over the decades. This gradual accumulation of functionality has created complex systems that, paradoxically, no one fully understands anymore and yet, they continue to work reliably. This also makes them incredibly hard to maintain and evolve. Additionally, they depend on a shrinking pool of COBOL and mainframe specialists, and are typically batch-oriented, which is a poor fit for today’s real-time, digital-first world. As such one could argue they represent a significant risk. But the opposite is also true: they are incredibly   stable, fast, and reliable . These systems have been hardened over decades, processing trillions in transactions with remarkable ...