Skilled labor shortages affect more than just the construction industry. As craftsmen in various trades and industries from the Baby-Boomer generation retire or change professions, there aren’t too many younger apprentices to train or to otherwise transfer that knowledge. The brain drain could have drastic impacts on modern conveniences that most of us take for granted.

Case in point: COBOL programmers.

What’s a COBOL, you ask? COBOL is the nearly 60-year-old Common Business-Oriented Language that most banking software depends on. Anna Irrera, reporting for Reuters, elaborates on the issue:

And here lies the problem: if something goes wrong, few people know how to fix it.

The stakes are especially high for the financial industry, where an estimated $3 trillion in daily commerce flows through COBOL systems. The language underpins deposit accounts, check-clearing services, card networks, ATMs, mortgage servicing, loan ledgers and other services.

The industry’s aggressive push into digital banking makes it even more important to solve the COBOL dilemma. Mobile apps and other new tools are written in modern languages that need to work seamlessly with old underlying systems.