Translators - The Hidden Intermediaries of Global Finance

Could a person act as a financial intermediary?

Of course. Translators skilled in finance are often the go-tos for the language challenges of the global financial market. Quick, clear, and effective communication is key when it comes to international finance.

Translation goes into so many parts of finance and trading. One, how do you brand yourself as a financial service provider, globally, without thinking about translation and the multilingual experience. 

Two, how do you expect others to read your white paper, do fundamental analysis, technical analysis, and other types of analysis needed when you only analyze in English? How do you expect someone to participate in global finance or make decisions without them understanding the stakes in their own language?

The democratization of information regarding global finance is key to the role of translation and professional translators as mediators of finance. Finance is becoming centralized, but the information is not accessible to those whose first language isn’t English.

In every company, quarterly reports and annual reports are being shown every year and quarter, and yet how do we read these in different languages without translation? The greater the language access is for that limited-English proficiency (LEPs) persons in terms of company or personal finance, then the lesser the language gaps experienced by these people.

Professional translators who specialize in this field are often overlooked, but they play an important role in facilitating the interconnection of the global financial sector. 

Why Professional Translators Are The Silent Figures In The Field Of Finance

In order to find out why professional translators are overlooked, we must first understand the ways that global finance works, linguistically. On one hand, English is the lingua franca, as well as the most commonly used language in the world. 

But it is also extremely important to know that English is not as popular as you might think. English speakers actually make up 5% of Russia’s population, 0.75% of China’s, and around 20% of Spanish speakers, according to World Finance. 

That means that other national languages such as Chinese (Mandarin and Cantonese), Russian, and Spanish (including its regional variants) are often needed for better world finance.

How does it relate to trade? International trade is highly regulated, and a simple mistake can cost you time, effort, and money. Translators are the silent figures of finance and trade, playing an important part in making sure all financial documents are correct.

The Importance Of The Role Of Translation In The Financial Field 

It’s not just random numbers that are necessary for global financial markets, but rather, documentation. Anyone entering global trade knows there’s a ton of documents to sign, there’s verification to undergo, and credit reports. 

In addition, statements that you would regularly read for research on stocks, such as financial position, comprehensive income, changes in equity, cash flows, and accounting policies have the need to be translated for foreign companies and individuals to participate in the global market.

After all, language access is one of the building blocks of global finance, so understanding breeds trust between two parties. Translators act as intermediaries between your country and the platform of the country, knowing the insights of trade. 

Whether it be cryptocurrency or the stock markets of the US, Japan, or China, they are up to date with the information necessary for financial transactions. We have professional translators to thank for giving us access.

BIO

Hannah Zablan is a manager in the finance department of Tomedes, a tech-driven translation company.