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Financial translations are part of a specialized niche in the Translation industry. What is interesting about it is that specialized areas required qualified people. This trained personnel are able to successfully deal with values, punctuation, and accuracy. Also, a specialized translator is able to manage the banking language, the insurance industry peculiarities, and the bureaucratic system related to the area of financial translations.

At Wagner Consulting International specialized translators, certified consultants, and well-experienced editors are at hand to deliver a quality service. In addition to it, professionals in the area sometimes talk about techniques to use in specialized translations and how these are used to assure one thing: zero mistakes.

Here are two reasons that exemplify why mistakes are not an option in financial translations.

Mistakes cost money

This is a universal truth, mistakes are expensive. In the financial world, this rule is tattooed in every financial actor that plays a role however little it might seem. For this reason, in the banking system of the European Central Bank, the World Bank, or the United Nations Federal Credit Unions where dozens of countries converge, Translation services must be accurate and hold no mistakes given that is the country’s bank responsibility to deliver the appropriate paperwork.

When the process is done incorrectly, lawsuits, cancelation of agreements and a costly waste of money and time are in order.

Information leaks in demanding sectors

Financial translation often serves the most demanding sectors; these are the bank, investment, insurance, and financing agreements. Each and one of these different sectors require specialized knowledge, which means that the team in charge of any translation service in the area must be knowledgeable and experienced in the particularities they entail separately.

For this reason, the strategies to approach a document must vary depending on the sector they are serving. In other words, if a firm is requesting a financial history to meet the law requirements of the host country, the translation team must be thorough to comply with those specifications, but also protecting both the market-sensitive data- that could lead to fraud- and the agent’s or the firm’s credentials. In other words, the information collected for an accurate translation must be well-protected in the company’s translation database.

Finally, even though there are many undesirable sceneries to prevent, one of the most trustworthy strategies to use when choosing the right company is taking a close look to what other clients have experienced and the company’s stamina in the market and in time.

 

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If you wish to receive a detailed offer or consultation on Globalization or Localization services provided by Wagner Consulting, then please feel free to contact our Sales Team, who will gladly assist you.

Sales team at Wagner Consulting
Phone: 
US: (718) 838 9533 (English speaking)
US:  (917) 725 3145 (Spanish speaking)
EU: (718) 618 4268
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