Interpretation Services for the Finance Industry

Translation services for finance industry

The world of finance is complex and demanding. When you’re providing a financial service, it is crucial to work not only quickly but accurately so you can build trust and maintain your client base. This relies heavily on your ability to communicate clearly with clients and partners alike.

In America, there are over 300 spoken languages, and a population of nearly 64 million people that primarily speak a language other than English. [1]Zeigler, K., Camarota, S., (2019). 67.3 million in the United States spoke a foreign language at home in 2018. Center for Immigration Studies Report. Retrieved March 21, 2022, from … Continue reading This means that over 20% of people may struggle to communicate with your financial services organization regarding one of the most important aspects of survival in the modern world. It is crucial for their financial security—and your business—to navigate this language barrier.

As diversity in the U.S. continues to grow, banks, lenders, and other financial institutions stand to miss out on a significant opportunity without a way to open lines of communication with a rapidly expanding demographic. To take it a step further, the importance of the global business market grows more significant every day, especially when it comes to finance. As different cultures and languages are intersecting at a rapid pace, financial services must be able to communicate effectively on a global scale if they want to thrive. The increase in non-English speakers in America, in addition to our expanding global financial market, means accurate, speedy interpretation and translation services for financial services are key to ongoing success.

The Finance Industry Needs Interpretation and Translation Services

Financial services are a part of a highly specialized industry that leaves little room for error. Organizations within this sector must maintain a high level of security, devote strict attention to compliance, and strive to achieve customer satisfaction. In addition, in finance, precision and accuracy are key.

This is what makes translation services so important. [2]Petcovici, T. (2018). The Importance of Translation Industry for the Commercial Sector. Anale. Seria Stiinte Economice. Timisoara, 23, 1-4. The world—and, increasingly, America—continues to grow more interconnected and more diverse. As we reshape our culture and our ability to communicate with one another, [3]Zong, J., Batalova, J., & Hallock, J. (2018). Frequently requested statistics on immigrants and immigration in the United States. Migration Policy Institute. Retrieved March 21, 2022, from … Continue reading it becomes more and more important to have access to skilled interpreters and translators to ensure proper understanding. Since it is impossible to staff on-site interpreters fluent in all languages, services like Telelanguage are essential for the financial services sector. A skilled interpreter can be available at a moment’s notice via telephone or video conference to ease your communications with on-site clients and partners as well as remote clients, peers, and business partners across town and around the world.

Translation and Interpretation Services Serve Finance at a Local Level

In nearly any given community, it is crucial for financial institutions to remain mindful of the growing population of non-English speakers. Like any other group, these demographics are looking to capture the American dream, which largely involves financial security and raising a family that can continue to reach their potential. Individuals and families are looking to purchase a home, save for retirement, put their children through college, and make secure investments, as well as participating in regular banking. Businesses operated by non-English speakers must be able to rely on your organization to maintain communication to help their brand grow or make wise investments for future success.

Any relationship with a customer begins with trust, especially in financial services. People must trust your institution to understand their needs, make strong and informed financial decisions, and keep both their information and money safe and secure. To gain that trust, your organization must be able to communicate in the proper language the first time, every time. In addition, with the many laws and regulations in place regarding the finance sector, any miscommunications could have serious repercussions.

That’s why Telelanguage interpretation services are available via both telephone and video. When you’re developing a relationship with potential clients, communicating in their first language will make an enormous difference when it comes to ensuring both parties are understood, and all processes are completed by the book.

We provide on-demand telephone or video calls that can bridge the most difficult communication gaps within seconds. Video and telephone interpretation services are ideal whether you’re helping a customer with something as simple as opening a savings account, communicating with a client or peer regarding a loan, or finalizing a business deal. Our interpreters are highly trained regarding financial topics, including industry-specific jargon and the necessary security and compliance regulations. Our goal is to help bridge communication gaps and provide the best customer service possible while helping you keep critical financial information secure.

Translation Services Aid Finance at a Global Level

translation services for financial industry

In addition to building trust and confidence with non-English speaking individuals at the local level, financial institutes often work with peers, business partners, and other institutions at an international level. Whether you represent a bank, accounting firm, investment firm, brokerage exchange, or another financial institution, it is critical to eliminate linguistic and cultural barriers. The ability to conduct business across international borders with the help of Telelanguage interpretation services enables you to achieve best financial outcomes while remaining in compliance with international regulatory requirements. [4]Agénor, P. R., & Pereira da Silva, L. A. (2022). Financial spillovers, spillbacks, and the scope for international macroprudential policy coordination. International Economics and Economic … Continue reading

When potential investors are determining how best to distribute their funds, they rely on accurate information via verbal communication, documentation, reports, and presentations. Telelanguage can help with translation and interpretation every step of the way, ensuring all necessary information is understandable and accessible to both parties. Oure services also help to facilitate communication with ease, making it a more enjoyable experience for all parties involved. With round-the-clock access via both telephone and video, Telelanguage interpreters can be there when you need them the most.

Translation and Interpretation Services Offered to Financial Sector

Telelanguage continues to be a global leader in the interpretation and translation industry, providing services to over 8,000 organizations worldwide. As a financial services organization, your priorities are customer service, preserving confidentiality and security, and performing with a high level of professionalism during every client, peer, and partner interaction. Those priorities become our own every time you access our translation services.

With Telelanguage voice and video interpretation, you can bridge language gaps preventing your organization from thriving. People build a more personal connection and establish a deeper trust of your financial services organization when they can communicate effectively, and we’re here to help. We provide critical translation and interpretation services for your business partners, peers, and potential clients.

The financial sector relies upon detailed documents and the verbal exchange of time-sensitive information. When you’re trying to close an important deal, whether you’re courting a foreign investor, completing a partnership, or providing financial advice regarding the highly competitive cryptocurrency market, [5]Durrant, S., & Conyers, A. (2020). Rise of cryptocurrencies. In Deviance Today (pp. 417-429). Routledge. you can’t afford to lose a single detail due to a misunderstanding. To help, Telelanguage provides accurate and reliable interpretation and translation services for financial services like:

  • Banking Institutions
  • Accounting Firms
  • Brokerages
  • Insurance Companies
  • Investment Firms
  • Consumer Lenders
  • Consumer Mortgage Bankers
  • eCommerce Professionals
  • Online Lenders
  • Retirement Funds
  • Financial Advisors
  • Cryptocurrency Brokers

Save Time and Money

investor on phone call with interpreter

Whether you are working with clients, investors, partners, or peers, financial services professionals know that time is money. For example, if you receive a call from an investor with limited English skills, wasting time trying to find a qualified interpreter in-house can mean missing out on a valuable opportunity. Even if your organization has a qualified interpreter on payroll for the most commonly spoken languages like Spanish, you’ll struggle to communicate with other individuals, both locally and internationally.

To bridge this gap, Telelanguage employs qualified professionals trained in several different languages, available at a moment’s notice via phone or remote video meetings—simply call or add your interpreter to your video meeting and you’ll have seamless interpretation in minutes. Best of all, you’ll only pay for the time you are actively utilizing interpretation services. In this way, Telelanguage interpretation saves you time, money, and energy otherwise spent in finding an impromptu interpreter. Don’t lose another international opportunity because you weren’t able to breach a language barrier quickly enough; rely on Telelanguage services for accurate interpretation within moments of receiving your call or video request.

The Financial Industry Needs Telelanguage

The world of finance is always changing and adapting, and it’s critical that your organization can keep up with the competition. [6]Bagnoli, C., Dal Mas, F., & Massaro, M. (2019). The 4th industrial revolution: Business models and evidence from the field. International Journal of E-Services and Mobile Applications (IJESMA), … Continue reading To ensure your financial services organization remains relevant and successful on the local and international level, it is imperative to utilize a reliable interpretation service that can enable detailed communication during your most complex financial discussions.

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References

References
1 Zeigler, K., Camarota, S., (2019). 67.3 million in the United States spoke a foreign language at home in 2018. Center for Immigration Studies Report. Retrieved March 21, 2022, from https://cis.org/Report/673-Million-United-States-Spoke-Foreign-Language-Home-2018
2 Petcovici, T. (2018). The Importance of Translation Industry for the Commercial Sector. Anale. Seria Stiinte Economice. Timisoara, 23, 1-4.
3 Zong, J., Batalova, J., & Hallock, J. (2018). Frequently requested statistics on immigrants and immigration in the United States. Migration Policy Institute. Retrieved March 21, 2022, from https://www.migrationpolicy.org/article/frequently-requested-statistics-immigrants-and-immigration-united-states
4 Agénor, P. R., & Pereira da Silva, L. A. (2022). Financial spillovers, spillbacks, and the scope for international macroprudential policy coordination. International Economics and Economic Policy, 19(1), 79-127.
5 Durrant, S., & Conyers, A. (2020). Rise of cryptocurrencies. In Deviance Today (pp. 417-429). Routledge.
6 Bagnoli, C., Dal Mas, F., & Massaro, M. (2019). The 4th industrial revolution: Business models and evidence from the field. International Journal of E-Services and Mobile Applications (IJESMA), 11(3), 34-47.