Franklin, Andrews, Kramer & Edelstein

[scion]

Banks scramble to fix old systems as IT 'cowboys' ride into sunset

Mon Apr 10, 2017 | 6:21am BST By Anna Irrera | NEW YORK
http://uk.reuters.com/article/uk-usa-banks-cobol-idUKKBN17C0DZ

Bill Hinshaw is not a typical 75-year-old. He divides his time between his family – he has 32 grandchildren and great-grandchildren – and helping U.S. companies avert crippling computer meltdowns.

Hinshaw, who got into programming in the 1960s when computers took up entire rooms and programmers used punch cards, is a member of a dwindling community of IT veterans who specialise in a vintage programming language called COBOL.

The Common Business-Oriented Language was developed nearly 60 years ago and has been gradually replaced by newer, more versatile languages such as Java, C and Python. Although few universities still offer COBOL courses, the language remains crucial to businesses and institutions around the world.

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In the United States, the financial sector, major corporations and parts of the federal government still largely rely on it because it underpins powerful systems that were built in the 70s or 80s and never fully replaced.
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http://uk.reuters.com/article/uk-usa-banks-cobol-idUKKBN17C0DZ