I agree, it's obviously very hard to compare transaction rates, and I also agree that I have hard time seeing companies currently using mainframes recouping the cost of migrating. If it works, it works.
But.
> Rewriting your system to a mainframe architecture is equally as expensive.
There was a new bank mentioned in this thread that actually started using mainframes from scratch, but other than that I've never heard of any "modern" fintech (or really any) company introducing mainframes. Organisations actually rewriting functioning systems TO mainframe must be almost never heard of (in the last 10-20 years at least).
If System Z, Cobol and DB2 are so obviously superior, why are so many successful new competitors in industries where they are the norm in older companies choosing to not use them?
I'm not saying banks should rewrite their stuff in node.js (or deno - even better of course), it makes sense for them to stay.
I just have a hard time believing that mainframe systems are so technically impressive, to the point where some people claim it's almost impossible to build a similar system on non-mainframe technologies.
But.
> Rewriting your system to a mainframe architecture is equally as expensive.
There was a new bank mentioned in this thread that actually started using mainframes from scratch, but other than that I've never heard of any "modern" fintech (or really any) company introducing mainframes. Organisations actually rewriting functioning systems TO mainframe must be almost never heard of (in the last 10-20 years at least).
If System Z, Cobol and DB2 are so obviously superior, why are so many successful new competitors in industries where they are the norm in older companies choosing to not use them?
I'm not saying banks should rewrite their stuff in node.js (or deno - even better of course), it makes sense for them to stay.
I just have a hard time believing that mainframe systems are so technically impressive, to the point where some people claim it's almost impossible to build a similar system on non-mainframe technologies.