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That COBOL layer that underlies almost all of our infrastructure. It was written when the cost/benefit calculation of writing it involved "downsizing" thousand
by marcus_holmes 7y ago
That COBOL layer that underlies almost all of our infrastructure.
It was written when the cost/benefit calculation of writing it involved "downsizing" thousands of clerks who were doing the job manually.
It can't be replaced because the cost/benefit calculation of replacing it does not involve anything like those kinds of numbers. The benefits of avoiding even a major security incident just don't compare to the costs.
Y2K taught me this. Nothing has changed since.
- dx034 7y agoSome banks are replacing their core banking system with new software. It's extremely expensive, a huge risk (any delay in migration means time where customers can't use ATMs or cards) and the benefit vs just adding API layers on top isn't always clear. At some point everyone needs to modernize but there are very few people who'd want to take responsibility for a project that size. TSB customers have learned how painful it can be if the migration of a core banking system fails: https://www.independent.co.uk/news/business/news/tsb-it-failure-cost-compensation-customers-switch-current-account-a8757821.html https://www.independent.co.uk/news/business/news/tsb-it-fail...
- marcus_holmes 7y agoNot only banks. I bought a house with the money I made on a Y2K project for a water authority's billing system. I doubt they've managed to work out how to replace that mess of COBOL without going broke.