(Online-Artikl.de) – translation of financial information requires a high degree of precision, reliability and discretion. The handling of financial information requires accuracy, reliability and discretion; no mistakes are allowed, because even a single wrong number can have serious consequences for the results of a bank or a financial institution. Therefore the translation of financial texts must be equally precise. Special skills are necessary to deliver an optimal product, which has the same terminological level of the source text. These are however – how much too often is believed – not only the purely linguistic nature, but affect in particular the deeper understanding of the source text.
Namely, many translation agencies tend to entrust such work to translators, which may have certain linguistic skills, but in most cases have no knowledge of the economic and financial links and are therefore unable to source texts to understand properly. The necessary knowledge, include not only terminology skills which can be acquired through a series of glossaries and regular consultation of relevant sources, but also a heuristic knowledge of the financial world as well as their products and markets to produce high-quality financial translations, which are tailored to the needs of the readership. It enough not to know “how to translate a particular word; you mainly need to know how to in this industry think and speaking. Also the translation of financial texts should reflect as far as possible the constant development of the financial sector, the financial markets and the specific needs of the institutions which are active in these markets. The translation activity for banks and financial institutions should be doing is never static, but should continue to evolve parallel to this constant evolution. Another aspect, which all too often ignore remains, is the customer, i.e.
the taking into account of the target audience, which will read the text in the end. Consider for example the case of a market report, which will be read by retail customers of a bank or a group of Finanzanalisten depending on the situation: the former have often limited financial knowledge and therefore require a translation, which unnecessarily complicates the understanding of the source text and requires too much knowledge, while in the second case, great precision and exact reproduction of the original text are necessary. This results in the need for a growing number of financial firms, to entrust such specialized work mother tongue translators who really know the financial and banking system and also understand. It is ideally to degree economists, which can work intensively with the industry and if possible have many years of experience in the financial sector. Just so it is absolutely possible, a precise, accurate, and the target audience to understand Translation to deliver and to convey that safety and reliability feeling Consumers this translation, which is for every Bank and every financial company, one of the most important pillars of success.