Financial documents play an important role in everyday life. They can be used to open bank accounts, purchase a home, apply for a loan, obtain a visa to a foreign country and more. Banks also frequently translate materials for clients whose first language is not English in order to communicate important information to them. Regardless of the purpose of the financial documents, it is important that any translations are done precisely and that all financial terminology is translated correctly. In today’s article, we will discuss banking translations and the requirements.
Banking translations often deal with complex terminology. This includes BSA/AML (Bank Secrecy Act/Anti-Money Laundering) laws, FinCEN (Financial Crimes Enforcement Network) regulations, SEC (Securities and Exchange Commission) regulations and more. Banks also have to comply with KYC (Know Your Customer) laws, which often mandate the translation of materials. This may include bank account statements, financial records and more. As banks deal with sensitive material, it is important to hire a translation company that is well-versed in financial terminology.
Another important criteria of financial translations is certification. Typically, financial translations must be certified, whether they are used at a bank or in a court of law. Certification ensures that the translation has been completed accurately and faithfully to the source text.
At CSH Translation, we specialize in banking translations and financial translations. Our linguists are trained in various financial fields, such as economics, banking and law. For questions about a banking translation, please contact us at info@cshtranslation.com