The finance sector is an international affair, and while this lack of borders offers enormous growth potential, it also means the way you communicate needs to be considered carefully. One way to make sure your message comes across clearly, no matter what language it’s in, is to work with a translation agency you trust. Read on to find out more!
1. Mistranslations are costly
A poorly chosen word isn’t just a matter of style; it can also lead to serious unintended consequences, whether financial or in terms of trust and authority. Selecting a translation agency with experts specializing in the financial sector ensures your firm remains protected from the costly errors that may arise with a mistranslation.
Moreover, specialist finance translators will also have a solid understanding of the different regulations that govern financial reporting in different countries. Since everywhere has its own set of rules and protocols to follow, finance translation often involves more than merely translating the words on the page, and also necessitates an element of localization to ensure content matches local expectations and standards.
Many agencies off certified translation services, which means your content is recognized and approved by official bodies, such as banks, as well as legal or governmental institutions.
2. Confidentiality is crucial
Financial firms are in possession of all manner of sensitive information, whether that’s client information and personal details or confidential financial data such as account balances, transactions, and investment portfolios. It makes sense, therefore, to select an agency with a proven track record in terms of confidentiality. Rather than relying on their own claims, it makes sense instead to look for a translation agency with ISO 17100 certification.
This independent accreditation is only awarded to translation agencies with strict procedures in place to safeguard all sensitive information. For example, translators should sign an NDA before they start work on a project, and information should be transferred using a secure, encrypted platform. This certification means not only will your translation be precisely executed, but you’ll also be protected from potential security breaches.
3. Cultural awareness is vital
Financial translation also involves a more nuanced aspect – that of cultural awareness. If you’re translating marketing materials, online content, or even investor communications, they must be translated with the right tone, register, and style. These subtle elements can only be mastered by a professional translator, trained
not just in understanding the source language, but in transforming it into equally well-crafted content in the target language.
4. Regional variations can affect meaning
It’s also important to highlight the impact regional linguistic variations can have. Let’s take Spanish, for example. An official language in 21 countries, Spanish varies considerably depending on whether you’re in Spain or Mexico, Chile or Paraguay, Honduras or Venezuela. A professional translation agency will likely have experts in each of these variations, meaning they can pair you with a translator who specializes in the particular Spanish dialect used by your audience.
While clear communication is essential in any sector, in the world of finance, the stakes are often higher. By pairing with a professional, reliable translation agency, you’ll ensure all your content and documentation meets the exacting standards your industry demands.
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