Financial Translation Services Are More Than Traditional Language Translation
03/16/2017 Financial Services
Financial translation service is a specialty of a handful of companies across Europe. Such services rely on the linguistic prowess of some who also have the technical acumen in the financial sector. The typical and bespoke financial translation services are offered by bilingual and multilingual professionals but it cannot be confined to traditional translation that is primarily of language.
The crux still lies in linguistic translation but that too has evolved beyond literary translations. Context, colloquialism and even customisation depending on the purpose of the translation, source content and the intended readers or recipients have lead to a transformation of how translation is attended to. Financial translation services are several steps ahead of that since it is not just literal or contextual but highly specialised translation.
It is one thing that companies require a sworn translator and notarised translation to protect their proprietary or sensitive information and to make the translated content legally binding. The other reality is the challenges of delivering authentic translation.
You would perhaps be aware that there are financial terms which are very hard to describe or define in a standalone or literal context. Most words are straight out of the dictionary implying what they were designed to but there are other terms that don’t conform to the same. The challenge becomes overwhelming when you consider the lack of relevant words which will imply the same in another language. There are many English words that don’t have equivalents in other languages. ‘Cheap’ for instance is an English word that doesn’t have any one word as its equivalent in ‘French’. You would have to use the phrase ‘bon marche’ to depict the same.
Specialised financial translation services, a proficient sworn translator and a veteran at notarised translator will always be able to overcome these challenges. But the problems are coupled with the regulation of financial terms that limit the scope of linguists or translators. Not every linguist or translator can become a sworn translator in the financial sector.
Not too long ago, no country in the world had any regulation or rule pertaining to the financial sector and hence there were no specialised terms, like there were in science and math. Over the decades, industry associations have been formed, regulatory authorities have been institutionalised and there are international forums that have weighed in and standardised a plethora of terms. This glossary is quintessential in notarised translation of financial content. The language is not the everyday lingo, be it English or French, German or Dutch. You have to bear these in mind while hiring financial translation services or a sworn translator for notarised translation.
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