I am interested in this topic but never quite understood it. Is there a techincal reason why these organizations don't transpile COBOL to C? I imagine building such a compiler wouldn't be that hard, and even if it is, we've had decades to work on it.
Is it more of a process thing (having to change unit tests, code review, hire new people, etc) that prevents this? Or is it just too risky given the important roles of the mainframes?