There’s one major language in common for the millions of people involved in global finance every day – English. But English isn’t the only language spoken in international business. Most businesses don’t just speak English. They use it to write their contracts, translate their agreements, and otherwise use the world’s second-most popular language for business purposes.

For many years now, businesses have been turning to translation for the finance sector to bridge the linguistic gap between them and their international partners.

What is Financial Translation?

Financial translation is a professional translation service focused on business, economics, and law terms. Translation for the finance sector needs to be done by a certified translator and get through legal approvals before getting released. Otherwise, there could be a misunderstanding or legal consequences that would harm business ventures or clients.

These services are also done best at Legal Service Translation (LST). Note that financial translation is not about translating large sums of money as another term for financial translation. Rather, it is about translation for the finance sector and its related terminology, including banking, investment, accounting, etc.

Why Use a Specialist Financial Translator?

It isn’t easy to find a better match than Legal Service Translation (LST) when it comes to specialist translation. We provide legal and non-legal translations, so we’re used to translating highly technical documents. What’s more, some translators specialize in specific languages or legal fields. We can get that done quickly and accurately if you need French accounting translation in Paris or Russian commercial translation in Frankfurt. To find out what makes us stand out from other agencies, check out our profile.

What do I need to translate?

If you are an individual investor or work in retail banking, you must hire a company for translation for the finance sector. If your job is to look after clients and advise and manage investments, it’s more than likely that you will require legal translations.

Suppose you are going to be working with finance-related documents. In that case, you should always consider having them professionally translated because it may mean the difference between getting away with breaking the law or falling foul of regulation by making an innocent mistake. In short, failing to have your business correspondence professionally translated could result in a hefty fine and even imprisonment!

When Do I Need to Hire a Financial Translator?

Legal Service Translation LST, translation for the finance sector. Have you ever wondered when to get professional help with your translations? The answer to that question is not always clear. Sometimes you will have such a project and might think – ah, I can do it myself because it’s not serious stuff. But then, once you start working on it, you will suddenly realize that so many things need to be taken into account!

How can you find a trusted financial translator?

How can you find a reliable and affordable financial document translation services? Hiring translators is a two-part process: finding a good translator and then making sure they’re up to date on trends in their industry.

It’s tempting to hire someone who offers fast turnaround times and extremely low rates, but be wary of these offerings; more often than not, low prices mean that translators will rush through your project.

To make sure you’re hiring someone like LST worth your time, always ask to see a portfolio of previous work before you finalize any agreements. If you don’t see anything that matches your project or if translations seem incomplete or inaccurate, there may be cause for concern.

5 Tips on Choosing the Right Financial Translator

There are many services of translation for the finance sector, but which ones can you trust? The answer to that question largely depends on your own needs. Every situation is different; every client has their requirements. One size doesn’t fit all when it comes to translators, and here are five tips that will help you pick out a service that best suits your requirements. Here’s how

  1. Consider your technical expertise. Financial translation services vary widely in their level of expertise. If you’re well-versed in translation for the finance sector documents, you may be able to cut costs by handling some of them yourself. Of course, if you can’t make heads or tails of your financial statements, outsourcing a translation service may be a better option.
  2. Look at your project timeline. When do you need your translation completed? It may not be worth paying top dollar if you have plenty of time on your hands, but what about a time-sensitive job?
  3. Don’t neglect quality even when the price is important. While cost is an important factor when selecting translators and services, it shouldn’t come at the expense of quality. You want your translation to get across exactly what you mean, which means working with someone who understands both languages.
  4. Take advantage of free samples. There are many companies out there that offer free samples, so take advantage of them! You don’t have to go through all your options before deciding; just see how one company works with one document (you can always order more later).
  5. Check credentials: Many translation companies will offer credentials such as ISO certification or membership in professional organizations such as LST. These are good things to look for because they show that an organization has been vetted by its peers and meets certain standards regarding language competency, ethics, etc.

Frequently Asked Questions about Translation Agencies for Finance Industry

Who is a legal translation agency? What services do they provide? A translation agency is an independent company that specializes in language translation. Their main goal is to provide their clients with high-quality translation services. Translation agencies normally employ large teams of qualified translators and proofreaders, allowing them to offer their customers prompt and reliable service at competitive prices.

Translators employed by such companies are highly specialized: they possess a deep knowledge of both source and target languages, including knowledge of cultures, history, and unique terminology associated with various fields of activity.

Specialization plays a key role in providing high-quality translations. After all, what’s important is not only whether or not you know two languages but how well you know them.