Financial institutions keep global business moving and this requires a highly-flexible network of communication. With an international network of language barriers to cross, organisations in the finance sector need an accurate and reliable translation system in place for a wide range of key tasks.
From corporate banks to investment firms and insurance providers, financial translation is at the heart of global business – and here are seven ways it keeps things moving in the right direction.
7 key roles of financial translation
Global finance is a high-stakes industry and this is not only because of the large sums of money typically involved, but also because of the legal requirements companies in this sector are required to adhere to – many of which are different from one market to the next.
Financial translation plays a key role by allowing all parties to understand their obligations and get their message across, regardless of the language requirements.
Imagine trying to complete any of these crucial business tasks without translation:
- Multilingual business meetings: Financial translation makes sure everyone knows where they stand.
- Financial negotiations: These are complex by nature and the last thing you need is language barriers getting in the way.
- Contract translation: Accuracy is vital when people are signing on the dotted line.
- Legal advice: With legal requirements varying so much around the world, clarity and understanding of obligations is paramount.
- Annual and interim financial reports: Investors, customers and journalists around the world are going to want accurate figures and reports.
- Shareholder letters: Keeping shareholders happy is crucial for any global business and speaking in their native tongue is the best way to start every letter.
- Marketing material: Engaging with a global, multilingual audience requires a lot of translated marketing material.
Without those seven types of translation, modern financial brands simply would not be able to operate on the global stage.
What makes good financial translation?
The first thing you need from any financial translation service is language pros with the necessary financial expertise and experience to handle these types of project. Not all translators necessarily have the knowledge required to translate a complex business contract or interpret international laws, for example.
As a financial organisation, you need a diverse team of translators who can remove language barriers from every business task. In one instance, you might be using interpreters to welcome prospective foreign investors or translate business meetings in real-time. Next, you could be translating a series of marketing campaigns ahead of expanding into a new market or creating a batch of training material for a new team of offshore staff.
Today’s financial brands are dynamic organisations shaping the way global business operates and you need an equally dynamic team of financial translators and language professionals to ensure language is never a barrier to progress.
If you want to learn more about what financial translation can do for your business, get in touch with our team of experts for more details.