What are the types of Financial Translation services?

There is a rising need for accurate financial translation as more financial services firms expand into emerging nations. Depending on their expertise, language professionals in this sector may work on a wide variety of documents, from white papers and company plans to income statements and tax reports.

As such, Financial Translation covers a variety of finance sectors:

Accountancy

This is related to translating documents such as balance sheets, income statements, cash flow plans.

Economics

This is related to documents such as market studies, white papers, market analytics documents, and macro- and microeconomics.

Insurance

This covers insurance-related documents such as annual reports, regulatory documents, audit reports, retirement plans, and so on.

Investment

This is concerned with translating prospectuses, business portfolios, bonds, equities, and financial reports.

Banking

This is related to all banking-related documents such as commodities, bank statements, foreign exchange, public and private offerings.

What are the challenges in Financial Translation services?

Financial translation, just like any other field of translation, has its own fair share of challenges and pitfalls. It takes a highly capable translator to account for these challenges and provide an accurate and flawless translation.

Here are three of the most popular challenges in financial translation:

Numbers, numbers... and figures!

There is no way around the extensive use of numbers in financial records. The way numbers are written in one region of the globe might vary widely from the way they are written in your own. When localizing information, translators must know how and when to utilize commas and points. Five thousand eight hundred is spelled out as 5,800 in US English. The same digit is written as five point-eight in several European countries.

Financial terminology

Qualified translators of financial documents must be fluent in both the source and target languages in order to accurately convey the intended meaning of the documents they are translating. Using inconsistent language is not only unprofessional but may also be detrimental to the company’s image and reputation. All translated versions are binding; thus, translators must be aware of any new IFRS requirements.

Market rules and regulations

More often than not, market rules add to the complexity and sensitivity of the financial translation process. The professional financial translator must be familiar with, and up to date on, all applicable laws and regulations in both the country of origin and the country of destination. All the most up-to-date information and localized practices in the intended market.

What is our Quality Assurance Process in Financial Translation Services?

At LingArch, quality is our top priority. And when it comes to our financial translation services, we have a strict Quality Assurance process that ensures every translated document is flawless in every way before it is handed over to the client.

1. Highly qualified translators

We believe that QA starts with a translation process itself. Therefore, we focus on assigning translation projects to highly qualified professionals with top-tier bilingual skills and deep experience in the field.

2. Eagle-eyed proofreading

After the translation is finished, a meticulous reviewer validates all the terms and numbers through and through to make sure they are spot on.

3. The look-and-feel

Finally, we put the task in the hands of a desktop publisher just before we send it back to the client to make sure the format is identical to the original, or whatever the client specifies.

Why LingArch is the best choice for businesses in the financial translation sector

  • Be assured that you are able to converse with different countries correctly
  • We guarantee confidentiality and care with your sensitive data
  • High level of accuracy
  • Dedicated teams around the clock

Financial Sector FAQs

Finance translation involves the conversion of financial documents, statements, reports and audits from one language to another. This is usually conducted by a translator with specialist expertise in both languages as well as comprehensive experience within the financial field.

Many countries have financial terms unique to their language. Some countries have also not updated their financial dictionaries, making it difficult for financial translators to find equivalent terms. For example, there are instances where financial terminology that is commonplace in English but does not have an equivalent term in Russian. In scenarios like these, the translator must draw a phrase or word from their own experience to try and convey the meaning of the terminology.

Our translators are specialists in their respective subject areas. We have translators who are specialists in translating economic and financial texts.

From tax and audit reports to equity research and disclosure agreement translations, our services cover a wide scope of financial document translations.

Yes, we have experience in translating annual reports and follow a dedicated approach to deliver highest quality translation.

Accuracy is of the utmost importance when translating financial documents. Inaccurate translations can be extremely costly for a business, particularly if decisions are made based on incorrect financial data. Accuracy is also important in terms of day-to-day operations. We ensure that experienced individuals are assigned to deliver translations that are accurate.

Case Studies

These following case studies are companies we have worked with in the past. Read them for more information.