What Do Translators Have to Offer the Financial Industry?
Perhaps more than any other industry over the last two decades, financial services have become a truly global affair. Deregulation policies in the 1980s and 1990s, coupled with the advent of the internet and its ability to connect companies and customers everywhere, have created an industry where firms that can operate in multiple countries and numerous languages, stand a far better chance of success.
This is where translation services have a significant role to play. Yes, the banking and finance industries are about numbers. But getting the words and feel right is key to successful partnerships, client relations and legal compliance. In an industry where tiny margins mean big rewards, finding the right translation partner can be the crucial difference.
In this post, we consider six key benefits translators can offer the financial services industry:
1. Attention to detail
Financial transactions are complicated affairs. Whether it’s for merger and acquisition material, or a fund prospectus, the number of documents associated with a deal can run into the hundreds. Each one of these has absolutely no margin for error; a mistranslated text could mean an agreement breaks down and the possibility of expensive legal ramifications.
Specialist financial translators with their in-depth financial knowledge, make sure the content means precisely what it is supposed to say in each language to eradicate the chance of misunderstanding.
2. Expert knowledge
Like any industry, the financial sector has its own set of jargon, acronyms and phrases. Good translators make it their business to know these and the industry inside out.
Our translators keep up to date with current affairs, financial news, global events and new developments in the ‘fin-tech’ sector, and thus, all associated terminology. Client confidence maintained, whatever the language.
An excellent financial translation agency must have an in-depth understanding of the industry to ensure specific financial terms are translated correctly the first time. Their knowledge of the industry will also make sure that you don’t waste your valuable time explaining the intricacies of a project. And beyond that, translators need to be expert communicators – being able to consider the cultural implications of language when compiling communication material.
Brightlines offers its clients a financial translation team that knows their stuff and gets it right. Every time.
Humans can be rightfully sceptical with financial matters. Organisations in these sectors need to go the extra mile to earn the trust that can turn into a win.
A tiny detail like presenting information in a language that someone knows intimately can help you win a potential customer’s confidence.
Global crypto investors who are not proficient in English may be put off initial coin offerings that aren’t multilingual. It’s the same with online trading services; the biggest traders in the world are said to reside in non-English speaking countries. Banks operate worldwide and it’s crucial that they too avoid alienating customers who don’t speak English. By tailoring their communication to a global audience, even health, life, and car insurance service providers can ensure that their promotional efforts have a further reach.
3. Translation Services for Fintech
The rapid adoption rate of financial technology is typical of innovation that offers users that level of convenience.
Completing previously time-consuming transactions online is a benefit with an undeniable value. This is amplified when information is in the user’s mother tongue. A fact that is driving and increasing the need for accurate translation services from providers who are versed in the jargon and can work at the speed that matches the sector’s growth rate.
The financial services industry moves fast. Stock market prices change daily; business opportunities rely on real-time communication with partners across the world.
Professional financial translators will respond quickly to changing situations. They work to tight deadlines to help keep their clients ahead of the game.
Head over to our experience page to find out more about why Brightlines is the ideal partner for financial translation.
The information within many financial documents is of the utmost privacy, and any leaks could have serious repercussions. Confidentiality is an essential component of financial translation services. Secure workflows and non-disclosure agreements are the foundation of excellent service.
An experienced financial translation agency is in a position to offer complete peace of mind to all clients in the banking and finance sector.
6. Brand Consistency
From high street banks to Fin-tech Unicorns, financial services companies spend time, effort, and much money, on developing a tone of voice that resonates with their clients.
They build websites, develop marketing strategies and run campaigns, all designed to attract the right client. Capable translators won’t just change the words. They’ll work hard to ensure the character and essence of the brand comes through, so businesses know they are ‘on message’ whatever the language.
This process involves using experienced marketing translators with in-depth knowledge of not only finance but of the transcreation process as well. Something that the team here at Brightlines has considerable experience of implementing.
See our marketing translation services page for more on how we can help your team send the right message to its global audience.
In summary, to maximise the chances of success in one of the most globalised sectors in the world, financial services need to engage translators that will guarantee speed, accuracy and confidentiality, as well as carrying the right brand message into new territories.
At Brightlines, our financial translation specialists can provide all you need, whichever country you are targeting.