Modernising COBOL without the barriers Nov 27 2019 15:41 languageMoneyScience
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COBOL (formally, the Common Business-Oriented Language) underpins the business-critical applications in most large banks and financial institutions. COBOL has something in common with Latin: it’s omnipresent even though few remain who are fluent in it. Its ubiquity seems benign until something needs to be modified and nobody knows how to do so without introducing new problems—and then the benefits of modernising suddenly become clear.
But if upgrading legacy code were easy, everyone would have done it already. Instead, the IT departments at large, historic institutions face a few familiar bumps in the road when trying to replace COBOL code with modern systems, which new digital transformation tools are working to address, in some cases with help from AI.