Financial translation involves converting foreign financial documents and materials, such as educational videos, presentations, and software, into another language, using specialized terminology and local financial system elements. However, achieving accurate financial translation is not a simple task, and it requires specific linguistic skills and knowledge.
The Importance of Financial Translation
Financial translation is utilized in a variety of industries, including financial services companies, banks, multilingual communities, non-profit organizations, law firms, and local governments. Financial translation is crucial for globalized commerce, legal compliance, and accurate, reliable, and efficient data records. Furthermore, financial translation services help companies achieve their goals with a broader, global reach across language barriers, improve branding, and provide better customer service.
The Challenges of Financial Translation
To be an effective financial translator, one must have diligence to meet deadlines, the ability to work with both domestic and international jurisdictions, awareness of language variants, and the ability to work with various formats, among other things. Accuracy and confidentiality are also crucial. Financial translators must also research and evaluate previous translations to determine the best approach to new financial content.
The language of finance, from a bank statement to a multinational’s cash flow records, requires precision, leaving no margin for error. Every number, label, notation, and punctuation mark must be in the right place. Moreover, nuances and translation difficulties, such as syntax, keeping numbers in the correct order, or using metric versus imperial, must be taken into consideration.
- In English, “two million” is written as “2,000,000.00,” but in English translation, the same number is written as “2.000.000,00.”
- Dates in the United States are written in the format mm/dd/yyyy, whereas in Canada, the format dd/mm/yyyy is used. Therefore, dates must be taken into account for a proper translation.
- The symbols for different currencies are written in a different order depending on the language. For example, forty dollars in US English is “$50.00,” while in Spanish, it would be “50,00 dólares” or “50.00 $.
- Large numbers are grouped differently in Chinese. For example, 10,000 in English is written as “10,000,” while in Chinese, it is written as “1万,” which means 1 “ten-thousand.”
Our Financial Translation Services
Our financial translation company provides several approaches for our financial translation services, depending on the needs, applications, and content to be translated. We utilize human translation, and machine translation is only used for typical terminology. Machine translation can be improved by using glossaries and style guides. We also offer post-editing services in which our professional financial translators compare machine translation with the original document before delivery. We also offer certified financial translations with certificates attesting to their accuracy.
Our financial translation services cover a wide range of financial materials, including annual audit reports, bank statements, board minutes and resolutions, business programs, correspondence, e-commerce, income statements, insurance documentation, legal contracts, press materials, profit and loss statements, regulations, sales projections, tax records, training, websites, and software with financial content.
Applications of Our Financial Translation Services
Our financial translation services are utilized in various situations, including acquisitions, mergers, and outreach efforts aimed at serving Hispanic communities and helping Hispanic-origin companies achieve better outreach. Additionally, we help companies from Latin America open offices in the United States, and guide American companies to achieve business success in Canada by providing financial translations from English to French and adapting English material to Canadian usage and vocabulary.
The Importance of Financial Translation in a Global Economy
Financial translation is vital in a global economy, as it promotes multilingual commerce, protects international or multilingual companies, and stimulates growing economies. At ABC Translations, we have professional financial translators available to cater to your financial translation needs in various language combinations. Contact us to discuss your needs, evaluate them, and provide you with solutions to manage your files and content to satisfy your audience or users.