Mediobanca documented trading, settlement, and treasury logic before a generational handover of senior engineers.

Mediobanca, the Milan-based wholesale and investment bank, runs trading, settlement and treasury workloads on a COBOL estate built up over decades by a small core of senior engineers. With several of those engineers approaching retirement, the implicit knowledge that connected production code to trading-floor intent risked walking out the door.

COBOLpro worked with Mediobanca to capture front-to-back COBOL workflows across capital markets and treasury — settlement flows, reconciliation logic, control points, and the institutional context behind each design choice. Structured review sessions ran with the original system owners, recording not just what the code does but why it was written that way and which scenarios stress-test it.

The reviewed reference is now the on-boarding artefact for newer engineers picking up the trading-floor estate, and the operational artefact compliance teams use during MiFID II and EMIR control changes. Generational knowledge transfer that would otherwise have happened through years of shadowing has been compressed into a documented, queryable form — without disrupting the senior engineers’ day-to-day support of production.