How important are financial translation services in today’s market? That depends on whether globalization is still a thing. And as it happens, this Bertelsmann Stiftung report shows that a slight decline in globalization has taken place from 2007 to the present.
However, this article from the Journal of International Business Studies makes a solid point that “globalization in its various manifestations will continue” in the post-pandemic decade.
So, what does enduring globalization mean to your financial enterprise? Simply put, it means you must be ever more ready to work with demanding foreign customers. Put in a more elaborate way, here’s what this Investopedia article says:
“The most important and continually emerging factor for financial firms to operate successfully in extended global markets is their ability to efficiently serve discerning, highly sophisticated, better educated, more powerful consumers addicted to the ease and speed of technology.”
What this amounts to is that, in order to serve foreign customers efficiently, financial enterprises can no longer focus solely on financial expertise. They must use the latest technology, and provide services in the customers’ languages as well.
True, “better educated” foreign customers will probably speak English. But studies such as the CSA research cited in this Hubspot article show that 65% of ecommerce customers prefer service in their own language.
And if that is true of ecommerce, it is all the more true of finances. Most people will obviously feel much more comfortable with the highly technical financial jargon if it’s presented in their own language.
At the end of the day, what it all boils down to is integrating quality financial translation with efficient technology. But depending on your foreign market, you may meet with a few issues:
- how do you make sure your translation resonates locally?
- can you integrate an external translation team with your in-house tech team?
- are there ways to avoid inconsistencies when working with a team of several translators?
If any of these concerns sound familiar, here’s how Upwords’ financial translation services will help with you.
- we work with native translators living in their home countries, across the US, EMEA and APAC, because we know they are sure to create translations that resonate in those markets. Besides, our teams include experts in financial translation who will translate the jargon accurately.
- our translators will work together with your in-house teams right from the start. This ensures translations are integrated into all your interfaces with agility and quality.
- we offer terminology management to help you keep consistency. We’ll develop and maintain terminology databases custom-made for you, which will allow translators to work faster and ensures consistency in the final texts.
In order to keep your current foreign customers happy, and attract new ones, it’s crucial you find the right translation company. Upwords can be the partner who will help give you peace of mind concerning all aspects of translation.
