Since March 8, 2023 three major US banks have failed. This has thrown global markets into a spin and generated fear among depositors. When events like this happen, sharing information with customers and shareholders is critical, and how it is presented is key. Many banks and financial institutions have foreign customers whose first language is not English, and they may prefer to read important news in their native language. These bank failures are troubling to many, so it is normal that customers will have many questions and concerns about the safety of their deposits. Providing translated documents to customers in a language that is understandable can help calm fears and adds value to any company’s offerings.
Types of Financial Translations
Some common financial translations include: economic report translations, bank translations, cryptocurrency translations, investment translations, bank statement translations, financial statement translations, financial report translations, BSA/AML translations, compliance translations, regulatory translations, and more. Financial documents often contain highly technical language, which is why it is important to hire a translation firm that is specialized in this type of language.
Reasons to Translate Financial Documents
Legal: Some legal proceedings require the translation of financial documents. CSH Translation can provide certified translations that can be used in any US court of law.
Immigration: The USCIS (United States Citizenship and Immigration Services) requires the translation of any documents in a foreign language into English for immigration to the United States. For example, the translation of a Russian birth certificate into English will be required in order for the USCIS to accept it. This requires a certified translation, and CSH Translation is able to provide USCIS approved translations.
Buying a home: If there is financing involved with a home purchase, typically underwriters will ask for financial statements and proof of funds, in addition to other documents. If any of the required documents are in a foreign language, they will need to be translated to English and certified.
Business: Many businesses choose to translate economic reports, articles about the economy, and other financial documents to update their customers and shareholders on important events. The recent bank failures in the United States are a good example of the information that might be shared with customers. It adds value to any company’s offering and makes important information available to all customers. These documents are often translated into Spanish and Portuguese for the Miami market.
CSH Translation specializes in financial translations and banking translations, and is well versed with the terminology and latest industry topics to effectively communicate your company’s needs.
Questions? E-mail us at info@cshtranslation.com