Replace COBOL with Visual Basic, Java, Javascript and you have your answer. It's what was used when those finance applications were written and became part of

Replace COBOL with Visual Basic, Java, Javascript and you have your answer. It's what was used when those finance applications were written and became part of the technical debt of the institutions that wrote them. Your shiny new language/framework today may one day be fondly remember by future generations as 'why are we still using this crap?'