Financial Translations Benefit Both Clients and Investors
Not only does translation assist clients in comprehending critical information, but it also leaves a positive impression. Businesses who are willing to adapt to a client’s demands and deliver information in a language that is more understandable to them will have an advantage over competitors that presume that everyone can grasp plain English.
Investors will also benefit from professional translations. A simple translator or Google translator will not suffice for investors who wish to read all of their documents in their native language.
Financial Translations Require Experts in the Industry
While finances are heavily based on numbers, it is also vital to establish relationships with clients and ensure that legal compliance is understood. After all, if you’re in charge of someone’s finances, it’s critical that they fully comprehend everything before signing any contract.
It’s one thing to ensure that words are consistently translated, but when it comes to finance, numbers are just as crucial, if not more so. When it comes to interpreting financial records, you can’t move, erase, or add any numbers by accident, otherwise the entire document will be wrong. It is important to consider how decimals, dates, and currencies are handled in different nations, as well as to guarantee that the document’s usage is consistent.
4 Topics Related to the Financial World
- Economics. The translator must be aware of the specific terms of this peculiar sector as the translated text may have extremely important implications for the consolidation of a contract or an audit.
- Banking. Financial statements for the purpose of demonstrating solvency or any other related subject matter must be carefully translated to avoid serious legal issues.
- Stock Exchange. Stock market terms are not only extremely specific but must also be localized to the country to be truly meaningful.
- Accounting. Translating a company’s accounting is an art that only an experienced translator is capable of performing successfully.
Anglicization in finance
Fortunately or unfortunately, depending on our subjectivity, the English language is the predominant language in the world, and this is more noticeable in the financial field. If we are language purists and try to translate every word in the economic world, we could fall into serious errors of meaning. It is necessary to show flexibility and accept the global term. For example, the word antitrust means the prohibition of monopoly, restrictions on trade and conspiracies that inhibit competition. Its literal translation into Spanish would be: anticonfianza, which does not reflect at all the intention of the word in English nor is it a correct word in Spanish. Antimonopolio would be more correct but it is not used, so we must act professionally and accept the anglicism.