Financial translation: more than numbers

Financial translation is one of the most complex specialisations of technical translation. Why?

What is a financial translation?

In order to produce a high-quality and valuable financial translation, the translator in question must be a specialist in the field and have a certain amount of terminological expertise in the advanced financial field.

It should be taken into account that financial texts have a dual mission:

• To expand information on economic aspects.
• To present the economic aspects to the target audience in order to persuade and convince them.

Complications in financial translations

Sometimes there are significant difficulties with such translations:

Use of foreign words

Normally, the financial sector is one of the most borrowed sectors in terms of English vocabulary. Using so many foreign words can often lead to problems, as translators have to decide whether or not to keep the terms in English or to adapt them to German, Spanish, Italian, Portuguese, or whatever the target language in which they are translating.

Terminology and format

There is a big problem when it comes to the format in which companies deliver financial documents depending on the country of origin. It is a fact that company accounting is accounted for and presented differently depending on the country, so the translation company and the translator must adapt to the terms and presentation formats of the country in question.

Ambiguity

Both the lexicon and the terminology used in financial documents have a multitude of connotations that will depend on the context in which they are used. The translator's experience and knowledge can make sense of this ambiguity in the translation itself.

Is it the same as an economic translation?

The translation of texts in the economic field basically consists of translating texts of informative content in an objective manner. We can clarify this with a few examples, e.g., providing the economic results of the company, microeconomic or macroeconomic analysis, etc.

The need for a job well done

In order to achieve good results, it is vital to have the services of a good translation agency that works with specialised translators in the economic field who have the appropriate training, of course, in both the source and target language. For all these reasons, it is advisable to look for a translation agency that has the quality to deal with the translation, revision and management processes. Another aspect that should not be overlooked is confidentiality, as maximum confidentiality must be guaranteed for any work of this kind.

Agility in service

Companies that translate financial documents and documents in all areas must offer a fast and customer-friendly service. They can do this if they have a dedicated management department to handle the translation process.

A sought-after and complex specialisation

When it comes to this type of translation, we should be aware that financial translation is one of the most sought-after and complex specialisations. Since English is so intrusive, as mentioned at the beginning of this article, it requires a series of specific characteristics, which is why it is always necessary to choose translators who are specialists in this particular area.

Financial specialisation

As occurs with other types of professionals, translators, once they have completed their degree, must choose a path in which to specialise. In the case of our translators in the financial field, they have had specialised training thanks to professional courses, additional masters and years of experience in this kind of translation.

As you can see, financial translation is not for everyone, so there is always a demand for specialised professionals.