For decades, COBOL has actually been the backbone of banks, powering financial, payroll, and large-scale transactional systems. Regardless of being extremely trustworthy, COBOL does not have modern safety features, concurrency, and scalability– making it an obstacle to incorporate with today’s cloud-native and high-performance applications.
Yet suppose we could update COBOL’s reasoning utilizing Rust– a memory-safe, high-performance systems language?
In this short article, we’ll rewrite a timeless COBOL financial transaction system in Corrosion, protecting business logic while leveraging Corrosion’s safety and concurrency attributes.
Why COBOL Still Dominates in Financial (Yet Demands an Upgrade)
COBOL (Usual Business-Oriented Language) was developed for structured information processing and batch-based transactional systems. Today, 43 % of banking systems still work on COBOL, processing $ 3 trillion in day-to-day purchases.
Trick Toughness of COBOL in Banking
✅ Accuracy: Handles fixed-point arithmetic important for monetary estimations.
✅ Dependability: Used in mission-critical financial applications with zero tolerance for failures.
✅ Data-Centric: COBOL frameworks are designed for record-based storage, perfect for large datasets.
Why Rust is the Perfect Upgrade for COBOL Systems