Especially as ground-up rewrites are often risky, and bringing it into a modern language might make it easier to incrementally improve/refactor over time.
I could write a cobol to c translator in a weekend. Nobody would buy it. Source: I've spent the last year and a half consulting on a huge project to rewrite a cobol codebase.
A similar problem to translating procedural code in a language with mutable variables to functional code in a language with immutable variables. A lot of old functions in C etc. were expected to modify their passed-in arguments, for example, which would be a no-no today (note: not in the C space, I'm currently an Elixir dev, but I'm hoping that's now frowned upon!)
I've noticed that LLM's are still not very good at this, too.
I'm unfamiliar with COBOL but I'm currently looking for work; not sure if you'd be up for a conversation just to discuss your work since (for some odd reason) I enjoy refactoring (as well as software preservation and validation); at the very least I'd probably be a decent rubber-duck if you got stuck on something lol
I can discuss my work, but unless you have a work permit in Israel, I won't be able to hire you.
Without getting into specifics, is it rewarding work? I can probably not do terrible at the 99% part
I'm enjoying tech-leading this project very much. I get to spend the time needed to write unusually high quality code, and there's a wide funnel that collects interesting debugging challenges and gets the best ones to my desk.
Working with a bank is... not for everyone. Not for me ten years ago, for example.
We're talking about a custom software stack grown from a first version written fifty years ago, before the word "coupling" meant anything to programmers.
I don't think I know anyone that would buy one, paying IBM is not the main issue with mainframes, and having support with big pockets is nice.
But I only work in one corner of the industry.