Financial translation is a type of specialized technical translation which requires the work of an expert in economic and financial affairs, and who masters the appropriate terminology in the source language of the texts as well as the language they will be translated into.
What is financial translation?
Financial translation deals with different types of documents related to economy and finance, as well as the subtopics derived from these disciplines. Some of these documents are:
- Annual company accounts
- Financial reports
- Audit reports
- Transactional reports
- Market analysis.
- Stock market matters
- Insurance documents
This specialization is highly demanded by financial entities, banks, commercial societies, investment banks, analysts and consultants.
Advice on how to obtain a good financial translation
To carry out a good financial translation, it is important to have one’s own guidelines of this technical specialty.
The economic scope has its own jargon, which includes a great amount of foreign words, particularly financial concepts in English which are very much used.
An experienced translator is acquainted with the terminology, and therefore decides which words are maintained and which ones need a more appropriate equivalence in the target language.
Correct document format
A specialized translation assures the figures and values are the same as those in the original document, adjusting them to the most appropriate format according to the general accounting plan of the target country.
Quality of the translation
A professional translation company has the most appropriate technological resources and linguistic tools and solutions to ensure the compliance with the quality policy of their services.
The everyday use and continual extension of the translation memories, as well as the databases with the specific terminology of each sector, guarantee a high-quality translation.
Ongoing learning for translators
A specialized translator is specifically trained in these topics and is up-to-date with the latest matters.
The complexity of the different financial products and services advise against turning to unskilled translators or even finance professionals with no translating experience, since they can easily make mistakes in the use of terminology or be unaware of international standards of financial information.
Do you leave your company’s reports or accounts in plain sight so anyone can see? Probably not. As with other professionals with whom you collaborate (lawyers, accountants etc.), another advantage of working with a translation company with expert translators, is the guarantee of their computer safety measures and confidentiality clauses.
Reference and previous experience
Just as your company has a professional or department in charge of finance, it is recommended you hire a translation company that has the most efficient methods and coordination and review procedures of the complete financial translation process, adapting to the features of your organization in an agile and committed way.
Given the complexity and uniqueness of this specialization, don’t you think you should leave a financial translation in the hands of the best professionals?