this is probably closer to the truth that you might have imagined :) that at that most of the $1T+ ACH transfers that happen daily in the US banking system happen over plaintext files and SFTP (source: I've written one of these files)
Hi, I am an Engineer at Unit.co, a company that also builds Banking as a Service.
I can share that not only we do not use COBOL, but our entire backend is written in Pure Functional Scala (and typescript for UI).