Question

Short note onTranslation in banks

Answer 1

To survive in such a competitive industry, banks need to be able to target local markets. To do this successfully they must deliver and translate documents, marketing material and support structures to their international markets. As regulations, technology, economic conditions and consumers have changed, so have the business strategies of the players involved in this industry. In fact, keeping up with changing market conditions will continue to be a challenge for the foreseeable future. 

Banks now need to target the global market. To do this successfully, they must ensure their services are compatible with local infrastructures and business processes. They must provide documentation and support tailored to the needs, language, and culture of local users. 

Answer 2

A bank is a financial institution that accepts deposits from the public and creates credit.[1] Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.