Financial translations include the translation of texts and documents regarding economics, banking, accounting, insurance markets etc. A translator dealing with this type of translation is required to be particularly attentive and proficient in specific financial fields. Incorrect translation of certain phrases in the case of financial documents can result in serious consequences, which is why in most cases companies focus on contact with translation agencies that possess an extensive experience, offering translation in many languages in order to operate freely in the international sphere.
What documents are translated most often?
There are many types of financial documents. The most frequently translated are:
• Financial documentation of enterprises
• Monthly or annual reports
• Market research
• Income statements
• Tax reports
• Marketing documents
Economic and financial translations also cover a wide range of business documentation. Moreover, among banks or financial institutions, translations of software supporting contact between customers and enterprises are popular. This type of translation requires the acquaintance of IT terms and practical knowledge from the translator, useful when localising software.
Professionals dealing with this type of translations often need to have a knowledge of law, economics or a specific field to which the document relates. Excellent use of source and foreign languages, constant updating of knowledge of the economic market, as well as strong analytical skills are also required.
How to choose the right translation agency for financial translation?
Financial translations are offered by many translation agencies. Therefore, choosing the right business partner should be very carefully thought out. When making the selection, it is worth paying attention to the seniority of the agency’s activity, references and experience. A crucial requirement when choosing the agency is also confidentiality when transferring documents and information. Financial records often contain sensitive data that cannot be shared with third parties.
Financial translations are a very popular branch of translation that requires high competence and experience from the translator. Cooperation with the appropriate translation agency is invaluable in this regard because the clients can entrust it with their business data, without fear of violating their confidentiality and being sure that they will receive reliable and correctly translated documents.
(Translation M. B.)