Financial Translation Services

The financial world covers a very diverse group of services that include payment services such as PayPal, banking institutions that settle accounts by way of checks, debit cards and electronic fund transfers as well as investment banks, among others. As most countries are heavily involved in global commerce, it is clear that financial translation makes the world go around.

First of all, it is useful to provide a very basic and clear definition of financial services. Investopedia defines financial services as follows:

“The process by which a consumer or business acquires a financial good.”

This definition casts a very wide net, and the degree to which so many countries with differing languages are heavily involved in the global economy, financial services translation will cast a similarly wide net.

Order Translation Services

Financial Translation Services

 

Significant financial operations that may require translation services as they expand their reach into the global market include:

  • Investment banks

Investopedia states that investment banks focus their attention on high-net-worth clients and “deal makers”. These banks provide a wide range of high-end services that include the following:

  • Wealth management and tax advice
  • Advice regarding mergers and acquisitions
  • Deal underwriting
  • Facilitating stock sales and purchases
  • Enabling access to capital markets

Such firms continue to aggressively move their financial products and services into global markets. So, unless they have employees who can speak fluently in many languages, they can expect to need financial services translation. In fact, investment banks that are trying to appeal to people in foreign countries must focus on local markets in those countries. Considering the high roller services these banks provide, they will generally be looking for wealthy clients in major metropolises. It is extremely important that any financial translation is not only painstakingly accurate, but adheres to regional and localized norms so that there are no misunderstandings

According to Business Insider,  investment banks in the United States, such as JP Morgan Chase, may reach out in following cities outside the United States, because they have the highest numbers of high-net-worth individuals.

Those cities are:

  • Hong Kong – 8,950
  • Tokyo, Japan – 7,090
  • London, England – 4,035
  • Paris, France – 3,955

Investment banks outside of the U.S., such as Deutsche Bank, may look for wealthy U.S. clients in these cities:

  • New York City – 8,980
  • Los Angeles – 5,295
  • Chicago – 3,350
  • San Francisco – 2,925
  • Washington, D.C. – 2,785
  • Dallas – 2,705

With all these wealthy people throughout the world, inside and outside the U.S., it is clear that investment banks need excellent financial translation into French, Chinese, Japanese and English, along with many other languages.

Order Financial Translation Services

  • Corporate accounting services

If your accounting business is seeking corporate clients outside the borders of your country, you need financial translation services to ensure that any communications between your company and potential clients do not contain any embarrassing miscommunications that can lose those prospects. Then, when a company in which the leadership and employees speak a foreign language comes on board, you will need consistently clear communication between personnel in both companies. This will certainly require ongoing financial translation services to keep the business relationship going.

  • Insurance firms

One niche in terms of the need for international insurance firms is the need for medical insurance that covers travelers. These types of insurance can bridge gaps in travelers’ health policies from home in situations in which they might run into a health incident or even suffer an accident when they are outside their own country.

Some forms of international insurance serve a variety of travel health insurance needs.

Those include:

  • Short-term visitors
  • Travelers
  • Students and faculty in educational exchange programs
  • Outdoor enthusiasts

Insurance companies like these will be dealing with people speaking a wide variety of languages as people in these situations are crisscrossing the planet every day. As a result, those who are insured and those who provide the insurance products will need financial translation services to make sure that policy benefits and restrictions are clear. Accurate translation is certainly necessary to avoid any expensive mistakes involved with receiving care in foreign countries.

Other financial translation needs

Additionally, here are some financial documents that will require translation for finance-oriented companies as they delve further into the global economy.

  • Business correspondence
  • Financial reports
  • U.S. Securities and Exchange Commission (SEC) filings

In the red-hot global economy, there is a lot of deal-making that crosses national borders. In fact, an individual company conducting multi-national business will most likely need to have its business communications and documents translated into several foreign languages.

Get a Free Quote For Business Translation

Financial Translations Online

 

PayPal, which was established in 1998, led the way in terms of online payment options. Even though it has grown exponentially and facilitates payments with 200 countries, it now has significant competition that offers several more global options to pay or be paid online.

Some major competition in the global market includes the following services.

Due – This online payment option has gained a reputation for its advanced time tracking and invoicing tools. Small business owners and freelancers are finding this feature particularly useful. Additionally, Due accepts global payments, which can generally be completed within two days, and provides a digital wallet that aids sending and receiving money between any two people in the world.

Payoneer – This payment service is among the oldest payment platforms, having been founded in 2005.  It is accessible in more than 200 countries. Additionally, it deals in 150 currencies, and it is free to get paid this way.

2Checkout – This payment platform is highly trusted and provides lots of payment versatility that includes debit cards, credit cards and PayPal transactions throughout the world. In fact, service is available in 87 different languages. It also allows businesses to automatically bill customers with recurring billing, offers sophisticated fraud protection and integrates with hundreds of online shopping carts.

Skrill – This payment service is known as an alternative to PayPal that has been growing in popularity. The attraction to Skrill can be attributed to instant deposit and withdrawal capability, exclusive offers, the ability to send text messages directly from accounts and payment acceptance from 40 countries.

Order Financial Translation

There are several other online payment platforms that do not necessarily operate globally. However, these payment services may want to branch out and provide global services that offer financial translation services in as many languages as possible as they expand into the that market.

In this fast-paced world where so much has to be done yesterday, financial translations must often be done as soon as possible. This is true of communications between clients of investment banks, or between online payment service users. Financial translation online must not only accurate in terms of words, but also in terms of numbers because many of these translations will involve currency exchange.

So, if you want painstakingly accurate financial translation regarding any specific financial need you have, The Word Point will provide you with timely, accurate and culturally sensitive financial translation services.

Hot Offer

Check the discount here

Translate Now