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7mo • Your bank still runs on code from 1959. It handles every transaction you make.
COBOL was created in 1959. Before the internet existed. Before humans landed on the moon. Before most of your grandparents had a television.
Today, in 2025:
→ 43% of banking systems still run on COBOL (Reuters)
→ 95% of ATM transactions go through COBOL code
→ 220 billion lines of COBOL still in production worldwide
→ $3 trillion in transactions processed daily
The people who understand these systems? They're disappearing.
Average COBOL programmer age: 58-60 years old. 65% of mainframe workers retiring within two years. 70% of universities don't teach COBOL anymore. It takes 90-180 days to find and hire a competent COBOL expert.
Banks know the risk. Commonwealth Bank of Australia spent $750 million over 5 years trying to modernize.
So they keep patching code from 1959. And hope nothing breaks. Your money runs on code older than the space program.
The hackers who understand it aren't retiring.
COBOL was created in 1959. Before the internet existed. Before humans landed on the moon. Before most of your grandparents had a television.
Today, in 2025:
→ 43% of banking systems still run on COBOL (Reuters)
→ 95% of ATM transactions go through COBOL code
→ 220 billion lines of COBOL still in production worldwide
→ $3 trillion in transactions processed daily
The people who understand these systems? They're disappearing.
Average COBOL programmer age: 58-60 years old. 65% of mainframe workers retiring within two years. 70% of universities don't teach COBOL anymore. It takes 90-180 days to find and hire a competent COBOL expert.
Banks know the risk. Commonwealth Bank of Australia spent $750 million over 5 years trying to modernize.
So they keep patching code from 1959. And hope nothing breaks. Your money runs on code older than the space program.
The hackers who understand it aren't retiring.
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