Banks and financial institutions are in the midst of a programming language revolution. Forget single languages, it's all about "polyglot architecture" – choosing the best tool for each job.
For decades, COBOL has been a backbone of global banking systems, handling everything from ATM transactions to credit card processing. But even with massive legacy codebases, banks are embracing modernization strategies like API wrapping and AI-powered maintenance.
Japan's mega banks have long relied on PL/I alongside COBOL for their core financial operations. And RPG, used on IBM iSeries (formerly AS/400), is still prevalent in smaller institutions. For specialized tasks like risk modeling or numerical calculations, Fortran has been a trusted choice. But the future of these languages is shifting as Python and Julia gain traction.
The takeaway? This isn't just about coding; it's about adapting to a changing financial landscape. And that means embracing new technologies while preserving the stability of existing systems.
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