This is Part 1 of my series about how localization in digital financial services can help you support your clients in their language.
And why do translators specialise anyway? These are just words, aren’t they? Well, not exactly. Financial and economic translations require a great degree of understanding. Translators who understand the concepts will be able to translate much more accurately than those who don’t.
Within the world of finance there are many complex terms and concepts
On the asset management side, if you are looking for accurate translations, then it is important to choose a translator who can deal effectively with the content. Do they know the difference between cyclical and defensive stocks? Is the term “bond proxy” translated or is the English version used in other languages? When the translation team understands such concepts and can combine their financial knowledge with their linguistic expertise, then you are certain to have a great financial translation.
The importance of accuracy
Apart from the sound technical knowledge required in translating financial statements or portfolio analyses, the accuracy and attention to detail matter as well. This is not just about getting the language right, but about representing the numbers accurately as well. The translation may be perfect in terms of written fluency, but it will be no good to the client if they have not taken the required care to transcribe or transfer the numbers, symbols or abbreviations. What if assets of $1,000,000 become assets of $100,000 in the translated document? Correct localised conventions must be used, such as a digital point and comma. A million (1,000,000) in the UK and US may in other countries look as follows: 1 000 000. Simple details, obvious to many, but important to get them right.
You can get on with your core business
Using a competent translator will allow you to focus on your core business instead, on the activities that generate revenue for your company or organisation. You will avoid the gigantic headaches associated with the incorrect translation of documents and with re-working them so that they are acceptable.
The answer: work with an expert
At EdIT Translations we are experts in financial translation. Before starting the company, its founder, Elzbieta Dubois, enjoyed a successful career in software houses building solutions for financial services, including major European banks in Paris and London, building societies, investment corporations and lenders. As a Business and Test Analyst she translated specifications and user guides and performed localisation testing, and so she is well-placed to deliver very high-quality translations of technical financial documents. She combines this experience with solid linguistic skills. A master’s degree in Professional Translation at the University of Strasburg and 30+ years of residence in the UK and France allow her to address and convey each country’s specific locale and culture. With this background, she can produce translations that are true to their audience and culture. So, the next time you are looking for an expert financial translator with a focus on your specific needs as a client, look no further, we are here to help!