The new economic and social context has become increasingly complex, and globalization has led to the internationalization of companies and corporations in the financial and banking sector.
In order to address this internationalization, it’s important to offer your banking products and services translated into your customers’ native languages. To achieve this, it’s necessary to have a professional translation agency, like blarlo, and the big companies in the sector set aside big budgets to cover their translation needs.
Financial terminology is very specific and dynamic. There are many words borrowed from foreign languages and acronyms, but also new words and terms continuously appear. Another feature is the use of different terminology and formats depending on the country or accounting models; some terms may even be ambiguous, since a specific term may have a different translation depending on the context.
Professional Economic Translation
Economic information in general is technical and objective, in other words, its main function is to provide relevant information on economic issues. This is most often seen in reports or documents like profit and loss statements, balance sheets, etc. This is why professional economic translation must follow these principles of objectivity and precision, where special attention must be paid so figures are adapted correctly.
This is also very technical information where the professional translator must perfectly master financial terminology in both the source and target languages, and in many cases, depending on the client's preferences, it may even be necessary to use terms that are more internationally recognized.
Translation of financial reports
Due to globalization, many business groups and companies have a presence in different countries. This leads to the need for companies to generate accounting, management, and financial information in several languages, making it necessary to consolidate this information. To achieve this consolidation, it is important to have a professional translation of the reports to make sure the information is as reliable as it can be.
Another common need is the translation of annual financial statements and audit reports for competitive bidding, acquisitions, mergers, etc. In this regard, blarlo has assisted several clients in the translation of their annual financial statements and audit reports with the help of professional translators who are experts in financial topics.
The financial documents that we most frequently translate at blarlo.com are audits, annual accounts, balance sheets, accounting books, annual financial statements, income statements, tax returns, etc.
Professional banking translation
We mustn’t forget that banking is a sector that needs to convey trust to its customers, and that banking products and services are complex and require a certain degree of specialization. Therefore, the translation of your documents, communications, marketing materials, contracts, etc. should be carried out by professional translators with experience in the banking sector.