financiallocalization

[financiallocalization]

4 Big Ways Website Translation Aids Business Growth

If you thought English was the most widely used language, think again! A simple analysis of your website’s analytics will reveal that your site has visitors from countries around the world. And a simple Google search will tell you that more than half of these countries do not have English as their primary language.

The core of any business is to expand without any boundaries… and establishing a good communication is an effective way of ensuring that you reach out to people from all walks of life. And how do you break the communication barrier and tap into the wider market? Simple! Website translation happens to be that one major step!

Choosing a website translator can boost your business growth and take you one step closer to achieving your goals. Here’s a quick look at the many advantages a multilingual website brings to expanding your market to foreign lands…

Increases credibility and international reach

According to studies, loyal customers are mostly consumers who get emotionally connected to a business or a product, more than those who save money or receive any other benefit. So, if you intend to strike that emotional chord with your potential customers, communicate with them in their native language. This will not just increase your overall client base by tapping into the international market, but will also help you build a credible image within your target audience. A multilingual website will make each user feel unique, and you will end up retaining their attention much longer.

Creates brand identity and increases engagement

Local customers are often found spending numerous hours merely trying to get a hang of the information provided by websites. However, when you opt for website translation, you are one step forward in creating a global brand. You are not only showing your audience that you speak their language, but by paying attention to other features such as messaging and chat boxes in local languages, you show them that you care deeply. This positive experience results in higher user engagement and word of mouth recommendations that will create and boost your brand identity.

Improves SEO and traffic

Search Engine Optimization (SEO) is the core of any online business. A strong SEO is what affects your website appearing on top of search engine results. In short, SEO is a reflection of how well your website is creating an effective communication. Thus, having your website translated is your one step forward in establishing that communication. Further, having translated web pages with unique URLs creates more backlinks and adds on to the promotion of your website ranking. An improved SEO leads to better results, better results leads to more users, and more users ultimately leads to more sales. Hence, you’re able to hit the nail on its head with respect to search engines with a simple translation tool.

Affordability

Expanding your business worldwide can be an expensive affair, and website translation is your cheapest option to either test the international waters or go all-in. Several businesses worldwide have realized the fool-proof benefits of website translation and are employing this well proven tactic method to good effect. And once your multilingual website starts driving sales, you can analyze your markets better and decide on curbing or furthering your investment towards localization and expansion.

In sum, using a translation service to translate your website has the potential to grow your business tremendously. Communicating with customers worldwide and expanding your reach at an affordable price is your ultimate road to success!

[financiallocalization]

Glossary of translation and localization terms

Agile localization

Agile localization is a set of practices to merge localization and translation into an agile product development cycle. It syncs your localization process with your development process so they operate simultaneously.

CAT

CAT stands for Computer-Assisted Translation and is the process of using software to make translation more efficient and accurate, without anything to do with cats. CAT tools typically include translation memory, concordance, import/export, and post-production features.

Content Management system

A content management system (CMS) is a software application that helps users who don’t know HTML better manage their website content.

Globalization

Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalization is also called g11n.

Glossary

A glossary is a list of terms and definitions used for a specific localization project. It explains what the terms mean, how to translate them, and whether to translate them at all.

Internationalization

Internationalization is the process of designing and developing a software or mobile application product to allow it to be easily localized for its target audiences in different cultures, regions, and languages. Internationalization is also called i18n.

Language pair

A language pair refers to languages in which a translator or interpreter can provide translation services.

Language service provider

A language service provider, also called an LSP, is an organization or business that supplies language services like translation, localization, or interpretation.

Machine translation

Machine translation (MT) is a software-based process that translates content from one language to another without human intervention. While it helps with quick translations, it doesn’t produce the same quality as manual, human translations.

Proofreading

Proofreading is checking a translated text to identify and correct spelling, grammar, syntax, coherency, and other errors.

[financiallocalization]

Overcoming Fintech-Specific Challenges with Localization

The path for fintech companies expanding their reach into global markets is made clearer through localization.

1. Building trust with localized content and products. For all industries, studies have shown that customers are exponentially more likely to make a purchase decision and return for repeat purchases if the website and related elements (product, customer support, etc.) are in their native language. This is especially true for financial products, as the nature of the industry skews more technical. Properly localizing your fintech content and products will ensure that there is no confusion around jargon or other financial-specific terms for your users and partners.

2. Providing continuously updated accurate information. Fintech is a fast-moving industry marked by rapid innovation of traditional financial products. By extension, this means that information in a fintech company’s products and applications must reflect the most up-to-date, understandable information for the end-user. In this realm, localization plays another fundamental role as methods like continuous localization enable fast-moving tech companies to localize their content as quickly as it is produced and needs to be updated.

3. Ensuring the following of all global and market-specific regulations with localization. A fintech company’s products and services are in full compliance with industry-wide and market-specific regulations. Given the highly digital and fast-moving nature of the industry, these rules could change by the day — and again, methods like continuous localization make sure that your company is properly updating global properties and products to adhere to them, and communicating with global customers in their native language to keep them up-to-date.

4. Providing best-in-class customer experiences. Working with fintech experts who understand not only the subject-matter, but the local language and culture is vital when striving to optimize customer experience. Our localization teams can make sure they are prioritizing design alongside localized content to deliver the best global user experience possible.

[financiallocalization]

The Importance of a Translation Project Manager

Project management is a large category in terms of skill set, but a good translation project manager will have the skills and knowledge of the industry to complete your translation project in a timely fashion, handling all sorts of nuances behind the scenes to relieve you of any worry with the success of the translation. But what does a translation project manager do?

In this article, we’ll break down the role of the translation project manager (or PMs for short) to help you understand how having a good project manager to coordinate your project can give you peace of mind through exceptional quality in your deliverables.

Analyze source documents

The first step in a translation project is to reach out to your project manager and send over the files you’d like to have translated. These can range from simple Word documents, to complex e-learning courses. Your project manager will analyze the files and ask any relevant questions: What languages and locales do you need? Do the images need to be recreated? Does this video require voice over and subtitling? They may even ask questions regarding the target audience you’re hoping to reach. Your project manager will know which questions are needed in order to create the project plan you’re looking for.

Create a project plan

After analyzing the source files for your project, your project manager will be able to create a specific project plan, or project scope, that is unique to your project’s needs. They’ll begin reaching out to different resources, calculating timelines, choosing the correct teams in terms of skill set and language pairs, and much more! Once the project plan is created, your project manager will send over a quote and will wait for approval before getting started.

Manage linguists

A project manager will work with people all over the world to deliver the best final files to their clients. There are quite a few facets that go into this step.

A project manager will need to:

Choose the best team for each project. A “team” refers to an independent translator and an editor, unless otherwise requested by the client. This means that each language for a project will have at least two different people working on it.

Align team to project specialization. Each piece of content that is being localized in a project will need to be analyzed by the project manager in order to select the right linguistic team for the job. Is the document being translated medical in nature? Then a specific medical team of linguists will need to be used. Is an app being localized going to be used for school-aged children? Then the project manager will need to have the linguistic teams keep that in mind. Does this brochure contain creative, catchy wordsmithing in English? The PM will have to select a team who specializes in marketing texts in the target language.

Manage linguist fit. If there are any issues with translations done by a specific team, your project manager will be able to switch linguists and keep notes to not use them on specific projects.

Be a liaison between the client and the linguistic teams as well as between linguists on the same team within a project. This helps to preserve anonymity not only between the client and the team but also between linguists. This helps when disputes arise or when differing professional opinions collide, whether it be between a client reviewer and a linguist or within the teams themselves. A project manager will navigate these situations and preserve professionalism and protect both the client and the linguistic teams.

Solve discrepancies and questions from linguists. Linguists are subject matter experts, but from time to time there will be questions regarding source material on which they’ll need clarification. PMs should speak at least one language other than English and oftentimes they’ll be able to answer questions for the linguist teams. They’ll conduct research when needed and if a question cannot be answered by the PM they will compile all questions from the teams working on a project and deliver them to the client, most likely in an Excel file, to easily see all questions and answer them in the same place. This makes the process easier because it usually can be completed with one step instead of the client answering potentially the same question for a number of different teams.

Walk the client through the process and explain industry terminology if needed

Maybe your boss has tasked you with compiling quotes for a new localization project within your company but you’ve never dealt with a translation vendor before. The vendor sales team as well as the project management team should walk you through their quotes and explain differences within terminology (editing vs. proofreading, phrase-sync subtitles vs. UN style subtitles, what is a translation memory and why is it important to me? etc.). Your project manager is like a part of your team!

Proofread final files before delivery

At the completion of every project, your project manager will perform their own quality assurance step before delivering the final files to you. They’ll ensure that the final files you’re receiving will adhere to the scope of the project, and unless otherwise specified they will be a 1:1 comparison of the source files you submitted at the beginning of the project. Oftentimes this is in addition to a review that has already been performed by one of the linguists on the team. A PM will be looking for issues like sentences that are missing punctuation, text that is cut off, or that the right images are on the correct pages according to the source files. A PM may even notice a typo in the source files and they’ll be sure to let you know about it. This is the last step performed before the files are finalized and sent to you.

Final thoughts

Having a dedicated project manager is vital to the success of your translation projects. They are key in every step of the translation process to deliver what is needed for your project. From coordinating teams all over the world to jumping on a call with your team to talk through the scope of a potential project, your project manager is an important resource to help bring your localization projects to fruition.

[financiallocalization]

Why a Secure Translation Workflow is Necessary

The bulk of translation projects are conducted on computers and through the Internet. The client must transfer the original document and any supplementary materials to the translator at the start of the project, and the translator will need to transfer translated drafts back to the client for feedback and approval.

The stakes are high in any industry, especially those dealing with sensitive data like patient information or legal records. Therefore, a secure translation workflow with stringent data protection protocol is essential.

Language Solutions Partners (LSPs) use a platform known as a Translation Management System (TMS), a workflow system which enables collaboration between linguists and clients throughout the duration of a translation project. The TMS is an encrypted holding ground for data related to the project, including names, addresses, medical records, legal records, and proprietary information related to the client’s products. With a TMS, the integrity of the client’s data is maintained and all translation occurs within the platform, minimizing the chance of someone unrelated to the project gaining access to sensitive information.

A secure translation workflow influences all aspects of the translation process. Here’s an overview of how a secure translation process works and what clients should look for when choosing an LSP.

Storing Data

The most important part of a secure translation workflow is maintaining an environment that minimizes the risk of data breaches. The most common methods to maintain data security are both human-focused and machine-focused.

On the human side, LSPs often require translators to sign non-disclosure agreements and implement rigorous training programs for employees involved with clients’ data.  Password-protected logins and restricted permissions for accessing data also help make sure the only people looking at the data are those who need to.  

Human linguists aren’t the only ones with access to data related to a translation project. Most LSPs also use some form of Machine Translation (MT), especially with large-scale projects, to reduce time and cost. A secure MT environment means that MT applications are encrypted and password-protected. No data should be stored in an MT system without the human linguist or client’s knowledge.

Sometimes employees work on documents from their personal computers, and email files back and forth so they are stored on multiple desktops. While these methods can be useful for some internal projects or sharing schedules, projects that involve personal data or sensitive information require more robust protections. When linguists work on translations, they must work through the TMS on the LSP’s server (which requires security credentials), rather than downloading the necessary files to their own computer. This ensures that all translation documents remain within the TMS and are not shared with anyone else.

Transferring data

Sensitive data should never be sent over email, which can be easily hacked. With a TMS, clients and linguists send files via a secure File Transfer Protocol, or FTP, which transfers data over a 256-bit, encrypted connection. In addition to ensuring data security, a TMS with FTP capabilities also ensures that all relevant files are kept in the same place.

ISO Certification

LSPs at the forefront of the language solutions industry often seek additional security accreditation like ISO 27001, a standard that demonstrates an organization has established an Information Security Management System (ISMS) to strengthen data protection and prevent data leaks.

This extra level of attention develops trust with clients and shows that an LSP takes data security seriously.

Worth the time and investment

With the global marketplace becoming more and more aware of the risks involved with sharing personal information, taking the steps with your LSP to protect data during the translation process will help your reputation and avoid data disasters. Putting best practices in place for secure translation is well worth the time and investment, no matter what industry your organization works within.

[financiallocalization]

Understanding Different Types of Translation Services

How many types of translation are there? What are the most important ones? Are there different types of translators? Read the article below and you will have answers to these questions and know more about a very important industry that affects the lives of nearly everyone on the planet.

1. Legal Translation: Legal translation services have many subdivisions as the law is a very complex area. One of these subdivisions is international contracts. As you can probably imagine, translation of this kind must be precise. A translator in this field requires an in-depth knowledge of specific terminology, depending on each industry.

2. Medical Translation: Medical translators work for healthcare providers, doctors, and companies operating in the pharmaceutical industry. Just as with legal translation there is little to no room for errors. Every word matters, so subjective interpretation and substitutions must be kept to a minimum. In these situations, the right translation can be the difference on whether or not a person survives,

3. Industry and Technical Translation: Technical translation is one of the most complex and productive specializations for translators worldwide. It often includes lengthy technical documentation and specific words, therefore, translators must have more than a passive knowledge of industry-related terminology. Software and tech companies often need translators for user manuals, technical user guides, product specifications, technical descriptions, lists of spare parts, and many other industry-specific documents.

4. Script Translation: Script translation is vital nowadays because so many popular movies and TV shows are coming out of Hollywood and being dubbed into several languages in order to facilitate a worldwide release. For example, The Harry Potter series was released into dozens of languages each requiring its own script adaptation.

5. Financial Translation: This field of financial translation is about all financial documents like bank records, statements, account statements and more. Oftentimes, information needs to be translated to make it easier for the target audience to comprehend. Translators in this field must be able to convert figures and different currencies for different audiences.

These are a few of the specializations for translators, mostly based on current global market trends. However, businesses today operate in ever-changing dynamic environments. This is why businesses should be ready to hire a well-rounded translation service that can handle many kinds of translations. Our global language services make us a leader in translation services. We are prepared to help ensure your business can successfully face the challenges of the 21st century and global economy.

[financiallocalization]

Financial Translation Rates

One cannot underestimate the importance of accuracy and integrity of information when it comes to numbers.  Financial translation plays a crucial role in international commerce. Imagine its importance in the European Union or in the commerce with the huge Asian and Middle-Eastern economies. With billions of dollars, pounds, euros, yen and many other currencies changing hands daily across virtual borders, there has never been a time when financial communication has been this important.

A small mistake could result in legal disputes, lost contracts and loss of huge amounts of money. There is too much at stake for companies to take a risk in order to save a few hundred pounds.  That’s the reason why the translators that you choose must be experts in the financial field, they must have a good knowledge about the specialized terminology and the recent advances in the financial and banking field. Whether your financial translation involves financial statements, insurance claims, shareholders’ reports, marketing materials, or anything in between, you must hire someone who understand the issues regarding these documents while offering you a completely confidential environment.

Like so many other, the financial field needs translation in order to survive and expand.  This is why financial translators need to understand the needs of a business and what it takes to communicate its message globally. If you own a business or you are in the banking industry, you probably want to know all about the current financial translation rates. But what you also need to understand is that prices vary according to a number of factors that we will explain in detail. In addition to that, we will show you a few simple steps that you should follow when hiring a translation service.

1. The Purpose of Your Translation

In order to have great results from a translation company, you must outline all your translation needs before asking for their financial translation rates. This way, you will get an accurate price from the start, which will help you set up your budget and understand all the underlying costs properly. For example, you should specify if you need the final text to be formatted, if you need SEO optimized translation, keyword research, proofreading, localization or other services.  If you discuss all the details from the beginning, you will also have the chance to make comparisons between different translation services easier and then you can decide which one suits your budget better.

2. The Complexity of the Text

It should not come as a shock when you see a higher price for certain types of texts. Specialized terminology and very long and complicated documents will cost more than the standard ones. People that translate this type of text are usually professionals in the field and this is another reason why the financial translation rates may be slightly higher. But the good part is that quality is guaranteed and you probably won’t have to worry about mistakes or confusions inside the text.  Some of the most difficult types of documents in the financial field are: financial statements, insurance claims, annual reports, mortgage applications and investors research.

3. The Source and the Target Language

Probably the most important factor that determines the financial translation rates is the language itself. The price vary according to other factors such as extra services and difficulty. In the financial field, Asian languages are becoming increasingly important due to the economic development of China and Japan.

4. The Deadline

The deadline is also an important factor that can influence the financial translation rates. When you need something really fast, it will obviously cost you more. Usually, the price difference is not shocking, but then again it depends on how early you set the deadline for the translation company.  If you discuss things properly from the beginning with the translation service you chose, they will tell you exactly how much you have to pay in order to have things done as quickly as possible.

In some cases, some companies will create translation teams in order to finish the work faster, which also results in a higher price per word. Anyway, it is advisable to establish realistic deadlines in order to make sure that accuracy and quality are not compromised. Remember that translation requires verifying and proofreading after it’s finished, which also takes a bit of time, especially if the documents are very long and complex.

5. Extra Services

In the case you need extra services the financial translation rates will increase depending on what you need and how fast you need it.  Some translators will ask for extra time if you want to have additional services, so you must have a good dialogue with them from the beginning.  The client, together with the translation team must make sure that all the strict financial regulations that vary across countries are adhered to.  If you need editing services, you might have to pay a bit more as well. It is strongly recommended to make sure that proofreading is a service they can provide. This way, you will avoid mistakes regarding terminology or even numbers.

6. The Prestige of the Translation Service

If you are hiring a popular translation company that had contracts with the biggest names, the financial translation rates are going to be definitely higher compared to those of a new translation service. In this case, it depends on your budget, on the size of your company and on the services you request.

[financiallocalization]

The Top (Localization) Challenges Global Fintech Companies Face

In general, companies invest in localization to engage their global consumers in a way that helps drive value and impact their bottom line. Aside from the well-known statistic that over half of consumers solely make purchases from websites available in their native language, fintech companies also have other vital reasons for localizing their content.

1. Building trust. Regardless of what market you are serving, asking businesses and consumers to provide their confidential financial information requires first building trust. Building trust in global markets is especially difficult and must begin with first speaking the local market’s language.

2. Providing accurate information. Fintech companies are only successful to the extent that they can most effectively innovate on traditional processes. One key facet of this is being able to make accurate information accessible in real time … and in the consumer’s native language.

3. Adhering and evolving with regulations. Due to the nature of the business, the survival of a fintech company is not only dependent on its users but also its ability to play within existing (and ever-evolving) regulations. This compliance with regulations is amplified for fintech companies expanding into new markets; one wrong move could cause many barriers for expansion.

4. Making sure customer experience is a priority. Fintech businesses can enhance their clients’ experience by paying attention to details, including accurate translation, a design that accommodates a region’s language, cultural sensitivity, and strong customer service.

[financiallocalization]

5 Reasons to Use a Professional Translation Company

So you need to translate something and you’re considering your options. Perhaps you took some language classes in school, or maybe you’ve got an old friend who speaks the requisite foreign tongue. Think that’s a viable option? Wrong! What you need is the kind of service that only a professional translation can provide. Consider the following five points that help illustrate this idea, and be sure to make the right choice – one that will keep your professional reputation and/or brand image strong.

1. Dedicated Project Management

As Adam Smith taught us centuries ago, division of labor is a boon to productivity and efficiency, which is why translation companies add PMs into the labor mix so that the linguists can focus their energies on the specifics of the text at hand, while things like workflow, partial deliveries, deadlines, etc., can all be done without slowing down the actual task of translation itself.

2. Trained Linguists

Speaking of the linguists, they really are the most valuable asset of any translation company. The few language classes you may have taken in school or the supposedly native speaker you may be friends with are simply no match for the arsenal of knowledge and know-how that true language pros possess. It’s not just about being fluent in two or more languages; there are practices and standards to follow, subject matters with specialized vocabulary to become acquainted with, and software to master, which brings us to…

3. Quality and Usability

Figuring out the right translation of a given word or phrase can be hard enough, and the truth is that oftentimes there is more than one correct option. The lesson to be gleaned from this is that consistency is really at the core of quality. Professional translation entails the use of computer-assisted   software, also known as CAT tools, which help ensure consistency in terminology and provide other useful features such as a translation memory and quality assurance controls, among others.

4. Quick Turnaround

Your time is valuable, so don’t go wasting it with subpar service providers. Hiring a reputable company will give you both peace of mind and a considerably faster turnaround, which means you’ll meet your deadlines. For big translation projects, there’s really only one way to proceed, and that’s by taking advantage of the large network of vetted language service providers that you simply won’t find on your own.

5. Clear Pricing

You don’t want surprises when confronting a translation project – regardless of its size. You deserve clarity in terms of how much you can expect to fork over to get the final product you need, and that’s exactly what a professional translation company gives you. So whether it’s a simple one-page document or a massive, highly technical file, you can quickly get an accurate quote and make your budgeting decisions accordingly.

[financiallocalization]

5 Steps to Prepare for Document Translation

Every document translation that are performed, are done so by a translator. Let’s take a look at how a translator sees your document and what you need to know to help them achieve the best quality work.

When the new project arrives at the translator, he/she reads through it to get a general idea of what the theme, fell and language used in the document is. Knowing this will help to determine the translators approach towards the process. The process could either be a sentence to sentence conversion or the complete retelling of a story.

When you prepare for your project there are some steps to take that will ensure you receive a good language conversion service that will benefit your company.

1) Use correct English in your original document. It is extremely frustrating to translate a document that the translator feels he/she could have written better themselves. And yes it actually does happen; people submit English documents riddled with spelling and grammar mistakes for document translation. A document that is not grammatically taken care of before converting to another language suggests that the person submitting it either have extremely limited language skills or they simply do not care about their project. Languages are a passion for the translation and a badly composed document might cause them to lose interest before they even start on your project.

2) Ensure that the instructions you give the translator are complete and comprehensible. Nothing frustrates a translator more than having to change direction in the middle of a document translation job, due to the client changing his mind or improper instructions.

3) Do not abuse the skills of the translator. People in general think that writing in a foreign language is easy, and should therefore be cheap to come by. They tend to forget that good interpretation is a time consuming creative process that requires more than just knowing the language the document are being translated into. When you do plan a project ensure that you pay the translator what is due and give them ample time to provide you with proper unrushed work.

4) Pay the fees for the document translation job. If you do not pay the full fees for the job, the translator will keep the copyright and creative rights on all of the translated pieces. Copyright is especially important for documents that are published on the internet and used in legal cases.

5) Protect your company’s information and image. By using a translation agency instead of freelance translator you will be able to protect your company’s name and information. Professional work will ensure that the image you have created for your company stays intact. By signing a non-disclosure agreement with the document translation agency you will ensure that your information and data are kept safe and not shared with anybody that might like to steal it.

[financiallocalization]

The Top 5 Challenges of Financial Translation

One mistranslation can lead to major problems in the financial world. From getting the terminology right to understanding the target market, read on to discover the top 5 financial translation challenges most linguists face in their day-to-day jobs…

1. Terminology

One of the most common translation problems faced by linguists is getting the terminology right. When translating a financial document, it’s extremely important that the linguist has a deep understanding of the sector. Terminology and nuances in this industry are very intricate and unique so it can be a serious challenge for those who have no experience or understanding of it. When translating an online trading article, for instance, the translator should be able to find the appropriate translation for words like “stocks”, “commodities” or “bear market”. They need to have a thorough understanding of the context. Performing a direct translation of this terminology will ultimately result in a major case of translation gone wrong. The words may sound straight-forward, but in fact, in the financial world, they have an entirely different meaning. A “Bear market” has nothing to do with the grizzly animal, it is actually a market trend in the trading industry. The same goes for the Cryptocurrency and ICO field. Words like “smart contract” and “mining” are very precise, technical terminology that is unique to that sector. Will the translator interpret these words for their exact meaning or will they ensure that accurate financial and technical terms are used in the target language, too? Unless your translator is an expert in the financial field, nailing that specific lingo can be a great challenge.

2. Confidentiality

Turning to a language service provider to translate your financial reports and other important and private information? Handing over any material of private matter poses a great deal of risk. But at the end of the day, most of it needs to be translated. That’s why it’s important that you trust your LSP and that you’re certain of their confidentiality. Some translation agencies might require their linguists to sign non-disclosure agreements while translation memories are usually set so that they are protected from external sources. Clients want to be rest assured that their valuable information won’t be leaked, tampered with, mistranslated or fraudulently used. For this reason, it’s important that the designated translators are trustworthy, responsible and professional with the valuable information handed to them.

3. Numbers

Numbers. They’re presented quite often in the financial world, wouldn’t you say? You may assume that English is the universal language for numbers but in fact, they vary around the world. The Chinese and Japanese numbering system differs greatly to the standard one, for example. Translators shouldn’t simply be cautious of words, but numeric figures too. Punctuation is another aspect that needs special attention. 1,200 is considered as “one thousand two hundred” in English-speaking countries. In some European countries, however, the comma may cause people to view the number as “1.2”. It’s crucial that the linguist gets these “small-scale” details right otherwise, the translated financial document can lead to serious misunderstandings. Anyone who isn’t well-equipped with financial knowledge and who isn’t a native or professional translator would pretty much struggle with this kind of translation.

4. Time Constraints

The financial world is extremely fast-paced and time-restricted. Reports, statements and important updates are constantly being published and there are tight deadlines that companies wouldn’t dare to miss. Financial translations therefore need to be carried out in a timely manner. Whether it’s an emergency email about a market crash or a news report about a plunge in price value, the financial calendars of these companies are a ticking time bomb. All associated teams and partners need to be on point and prepared to publish at any moment in time and this includes the translators, too. Of course, this can be a difficulty when you have piles and piles of work to carry out. Content targeted for the financial industry is usually prioritized in order to meet the strict deadlines. It becomes more challenging when the volume of work is high and this is usually often the case in the economic world.

5. Market Culture & Rules

Rules and regulations in finance can be complicated due to their elaborate and intricate nature. They differ in each country and for this reason, translating a financial document for another region can be tricky. Linguists need to be aware and up to date with the particular customs in the target market. You don’t want to run into any legal charges.

Translating one report or disclaimer for another country can prove to be difficult; especially if one regulation is applicable in a market and not in the other.

Translation fails can lead to financial failures. We therefore can’t stress enough how important it is to get the interpretation right.

[financiallocalization]

Seven Tips to Find the Right Financial Translation Agency

Finding the right financial translation agency can be a hectic job because this would mean relying on them solely for all the details of your company.

To find the right financial translation agency, there are certain tips and pointers that should be kept in mind.

1. The authenticity of the translational company is very important. This also means that the agency should have experts as the quality of your company largely depends on the quality of materials and translations that you are provided by your agency.

2. Do your own share of research to find out the reliability of the agency. Compromising with a no-name agency for cost-efficiency can also lead to humiliating mistakes.

3. Make sure that the agency meets the requirements of your services. Ask as many questions and clear your queries as this helps to create a bond of trust and understanding between you and your agency.

4. Ensure whether the agency uses human translations or machine based translations to get your job done.

5. It is also important that you consult with the agency that you have selected, with regards to their flexible work hours. This is because choosing a wrong translation company can often lead hindering the speed at which your service is paced to work upon.

6. Keep in mind and make timely research on their past clients. This is because experience always speaks for itself and through the interaction with the past clients, it will enable you to have a vague idea about how it will work out with the agency during the contract period.

7. Ensure that the translation agency provides for services like proofreading and experts employed in the field as this helps greatly to increase the quality of the work.

Choosing the right agency for you can be a nerve wrecking job and mistakes can lead to fatal consequences. Even a small research goes a long way and can save you from humiliation and drastic consequences.

It is therefore, very important that you check with the authenticity and reliability of the agency before blindly putting your trust on one.

[financiallocalization]

5 Tips on How to Choose a Financial Translation Provider

Your company’s financial reports (e.g. annual report, financial statement, CSR report, ESG report, etc.) need to be bilingual for filing. Now, you look up online and find thousands of translation providers. How do you choose a translation provider that will render an accurate version of your financial reports in the target language and in turn, cooperate long term?

Here are some tips to consider when choosing a translation provider.

1. Expertise in financial translation. They know the financial jargon.

There is a myriad of translation agencies you can find online. What sets them apart is their expertise and their strong, solid background and knowledge in the financial industry. Because the financial documents involve crucial information and terminologies, they should be able to produce a translated version that is accurate and error-free.

2. Let you understand the translation process.

Most often than not, companies would not bother to understand what happens after the work order has been confirmed. However, it would also be beneficial for you to take the time to know the agency’s translation process. This way, you would be able to gauge the efforts they put into to ensure that they deliver quality work.

3. They have assisted tools to increase productivity.

While translations are still reliant on human translators, translation providers should employ CAT (computer-assisted translation) tools to ensure speed, quality, and consistency. Particularly in ensuring consistency, the CAT tool with AI technology saves the source and translated segments in the translation memory, which could be leveraged in future translation projects. When choosing a translation agency, it is important to consider how they extend the cost efficiencies to you.

4. Align timelines and set expectations.

Ultimately, your company needs to file these reports by the deadline. Being able to communicate this with your agency on the onset of the project helps both sides. To you, this means you will be receiving the final documents on time. While for the agency, they will have enough time to prepare, produce, and ensure quality work. In times where there are pressing deadlines and the time needed to complete the work is shortened, your agency should be upfront and able to convey to you the implications.

5. Ensure confidentiality.

Nothing is more of utmost than confidentiality. This means the provider has proper procedures in ensuring how the documents will be secured throughout the translation process.

Because it is of tantamount importance to make sure your reports are accurate for customers, creditors, and the investment community, it would be very helpful to consider these tips in choosing the right partner for your translations.

[financiallocalization]

Financial Translation – How to and It’s Benefits

Businesses have become a worldwide phenomenon. Although start-ups focus on expanding within their own markets, multinational corporations seek to expand into new markets around the world. Taking the organization global, on the other hand, is a big step. Irrespective of their product or service offerings, translation services are important for companies in all market fields. If you want your financial product/services organization to succeed globally, you must localize for the target market, which means translating your business message and knowledge into the local population’s language.  

Financial translation entails converting all documents from one language to another that is easily understood by the international community. The majority of multinational corporations (MNCs) aspire to open branches in various foreign markets. Since opening the branches, the company continues to market and distribute its products or services to the emerging international audience.

Banks, insurance providers, and other financial firms that want to increase access to their services need a financial translation. It also helps customers develop loyalty and adhere to international regulations.

As financial services companies expand into emerging markets, there is a growing need for high-quality financial translation. The global economy is becoming more industrialized, with globalized industries and workforces ensuring that capital flows through cultural and linguistic boundaries. This degree of globalization would be unlikely without reliable knowledge and coordination. English is no longer the only language used in business; translation into other languages is becoming increasingly necessary.

One of the most critical facets of today’s market is document translation. Financial translation is done to attract a particular niche audience in order to reflect the financial statement in a different zone. These translations are carried out by skilled financial linguists.

As a result, if an organization needs translation or transcription services, it should look for the most qualified linguistic firm in the field. If you’re looking for a translating firm, get in touch with FL Boutique Translation Agency.

[financiallocalization]

Prepositions in Contracts

1.     To enter INTO a contract

2.     To act ON behalf OF

3.     IN the name OF

4.     IN the name, place and stead OF

5.     IN lieu OF

6.     IN consideration OF

7.     FOR valuable consideration

8.     IN witness whereof

9.     To give notice TO the parties

10.   The parties TO the contract

11.   BY virtue OF

12.   UNDER the contract

13.   IN compliance WITH

14.   IN conformity WITH

15.   IN accordance WITH

16.   Pursuant TO

17.   According TO

18.   Performance OF obligations

19.   Referred TO as

20.   IN good standing

21.   Binding UPON the parties

22.   IN writing

23.   BY written agreement

24.   Evidence OF an agreement

25.   Changes or modifications TO a contract

26.   BY and BETWEEN the parties

27.   IN court or IN a court of law

28.   TITLE to property

29.   An interest IN land

30.   Entitled TO

31.   Empowered TO

32.   Assignment OF rights

33.   Representations BY the parties

34.   Construction OF terms

35.   ON this date

36.   IN case OF

37.   IN the event OF

38.   Known TO the parties

39.   TO the best OF my knowledge

40.   Signed BY the parties

41.   Represented BY an agent

42.   Provisions OF this Agreement

43.   Dependent UPON

44.   FOR participation IN

45.   BY any appropriate means

46.   Including, but not limited TO

47.   Including WITHOUT limitation

48.   IN the enjoyment OF

49.   FOR a period OF

50.   be responsible FOR damages caused TO property

51.   To be liable TO someone FOR something

52.   To be answerable TO someone FOR something

53.   Resulting FROM

54.   As a consequence OF

55.   WITH respect TO; related or relating TO

56.   WITH reference TO

57.   as stipulated IN section

58.   Warranty OF fitness FOR a particular purpose

59.   Warranty OF merchantability

60.   IN no event

61.   UNDER no/any circumstances

62.   IN the year

63.   Executed IN multiple counterparts

64.   Copy OF the signature page

65.   Secured BY mail

66.   Sent TO each signatory

67.   Understanding BETWEEN the parties

68.   IN connection WITH this agreement

69.   Prior TO the date hereof

70.   Attached hereto

71.   Made a part hereof

72.   The subject-matter OF this agreement

73.   The term OF this agreement

74.   applicable TO

75.   Governed BY the laws of

76.   TO the maximum extent possible

77.   The intent OF the parties

78.   The remainder OF

79.   IN a manner that

80.   FOR identification purposes

81.   Use reasonable care IN doing something

82.   Done WITH reasonable care

83.   TO the benefit OF

84.   Waiver OF a term

85.   IN breach OF

86.   Failure OF/BY either party

87.   Right accruing UNDER this Agreement

88.   Agreed UPON/ON

89.   FOR the continuing purchase OF goods

90.   IN spite OF this provision

91.   WITHIN ten days

92.   ON or BEFORE the fifth day

93.   as USD herein

94.   The premises located AT

95.   WITH its principal place OF business AT

96.   WITH offices AT

97.   Set forth IN paragraph

98.   Effective ON the date hereof

99.   Settled BY arbitration

100. BY majority vote

[financiallocalization]

Translation and Localization Services for Blockchain and Cryptocurrency

Blockchain technology and Cryptocurrency are selling like hotcakes in recent times. People are eager to switch to digital currency and a system that is decentralized, secure, and transparent. Naturally, there is a massive demand for blockchain and cryptocurrency, which have joined the bandwagon to provide these services to organizations and industries willing to revolutionize their work culture.

However, many blockchain and cryptocurrencies have been faced with a common problem – the language barrier. The demand for these services is borderless but what hinders smooth communication is the lack of translation and localization services that can offer accurate translations.

How can translation and localization services help Blockchain and Cryptocurrency?

With the rapid growth of blockchain and its increasing demand, service providers are compelled to localize many materials. The problem arises because most language service providers and translators have little or no knowledge of the technology. As a result, translations are hard to come by, and even if they do, they are inaccurate, difficult to understand, and machine-like.

That’s why you need translation and localization services from a company that understands blockchain technology and can create clear, technologically correct, lucid, and locally relevant translations. These LSPs have subject matter experts and linguistic experts who work together in an AI-supported environment to produce the best translation outcome for companies working with blockchain and cryptocurrencies.

Here’s what expert LSPs can do for your company:

1. Website localization

It is natural to have clients across borders. LSPs help translate your entire web content so that your users/clients can have a smooth experience on your website.

2. Apps and Software localization

User interaction isn’t limited to your website alone. Allow your users a seamless experience on mobile platforms and software with expert translation services. LSPs can accurately translate push notifications, in-app messages, and software services for the best-localized experience.

3. Video captions and subtitles translation

Video marketing is in trend. Businesses of all types use videos to promote their products and improve user engagement. Blockchain and cryptocurrency companies are no different. In fact, emerging technology like blockchain and crypto requires more video marketing to help users understand their uses better. In such a scenario, accurate translation of all video subtitles and captions is essential to send across the right message.

4. Whitepaper translation

As a business, you will need to create documents to educate your clients or customers about the services or products that you offer. Localizing these documents or whitepapers is essential for better understanding.

5. ICO documentation translation

If you run a company offering cryptocurrency to users, you very well understand the importance of an ICO or initial coin offering. Expert translation services ensure that all the essential company documents are accurately localized to avoid any hassles during your ICO.

6. Voiceover translation

If you have several explanatory videos targeted towards different types of audience, you need a translation service that can help produce videos in multiple languages. The right localization and translation services will allow you to reach your audience across borders in their native languages. This improves brand engagement and creates a sense of trust and reliance.

Why use specialized translation and localization services for your blockchain company?

Translation and localization services are easy to come by. But blockchain and crypto companies need translations that are technically correct and culturally appropriate. Using just about any LSP may not be ideal for translating technical documents, legal documents, marketing materials, software applications, and entire blockchain systems. You need someone with expertise in the domain.

Are you associated with a business that uses blockchain technologies and in need of getting your software applications and technical marketing documents translated? Looking for a reliable translation service provider? Look no further. FL Boutique Translation Agency provides you with the best quality translations. We provide you quality in return for your trust!

[financiallocalization]

What do translators have to offer the financial industry?

In this post, we consider five key benefits translators can offer the financial services industry:

Attention to detail

Financial transactions are complicated affairs. Whether it’s for merger and acquisition material, or a fund prospectus, the number of documents associated with a deal can run into the hundreds. Each one of these has absolutely no margin for error; a mistranslated text could mean an agreement breaks down and the possibility of expensive legal ramifications. Specialist financial translators with their in-depth financial knowledge, make sure the content means exactly what it is supposed to say in each language to eradicate the chance of misunderstanding.

Expert knowledge

Like any industry, the financial sector has its own set of jargon, acronyms and phrases and good translators make it their business to know these and the industry inside out. Keeping up to date with current affairs, financial news, global events and new developments in the’ fin-tech’ sector, and thus, all associated terminology is essential. Client confidence maintained, whatever the language.

An excellent financial translation agency must have an in-depth understanding of the industry to ensure translations are of high quality. Their knowledge of the industry will also make sure that you don’t waste your valuable time explaining the intricacies of a project.

Speed

The financial services industry moves fast. Stock market prices change daily; business opportunities rely on real-time communication with partners across the world. Professional financial translators will respond quickly to changing situations and work to tight deadlines to help keep their clients ahead of the game.

Confidentiality

The information within many financial documents is of the utmost privacy, and any leaks could have serious repercussions. Confidentiality is an essential component of financial translation services, and secure workflows and non-disclosure agreements are the foundation of excellent service. An experienced financial translation agency is in a position to offer complete peace of mind to all clients in the banking and finance sector.

Brand Consistency

Financial services companies spend time, effort, and much money, on developing a tone of voice that resonates with their clients. They build websites, develop marketing strategies and run campaigns, all designed to attract the right client. Capable translators won’t just change the words – they’ll work hard to ensure the character and essence of the brand comes through, so businesses know they are ‘on message’ whatever the language. This process involves using experienced marketing translators with in-depth experience of not only finance but of the transcreation process as well. Something that the team here at FL Boutique Translation Agency has considerable experience of implementing.