The difficulty of procuring all-rounders with professional training in finance and translation also becomes more acute when more obscure language combinations are required. The key to successful financial translation is building relationships between the agency, client and translator.
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One-off translations risk failing to understand and capture the financial worldview of the client in question. To succeed in this task, the translator must adapt to their preferences for certain terminological angles. The importance of using Translation Memory software with refined client-specific glossaries thus takes on a whole new dimension of importance in this field.
Clients return to agencies who seamlessly replicate their corporate tone and transmit that message across borders. Ultimately, the language of finance is a code unto itself. There is always a challenge in combining theoretical understanding with pragmatic practice of both financial and linguistic nuances. When you hire a financial translator, you trust them to navigate forests of terminological red tape. A potential stumbling block is the fact that languages behave differently around numerical conventions — something that may not be obvious to the monolingual finance expert.
To show the potential for slip-ups that come with these assumptions, we just need to consider how different languages and cultures deal with something as elementary as a decimal place.
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In the UK and the US, we always separate the integer part of a number from the fractional part with a stop — — but in fact these are two of the very few places in the world that do this. For another, you have to go as far afield as Thailand. Further anomalies abound , as other languages use a space , an elevated or a point for other purposes. Languages like Spanish, Italian and Portuguese use points to separate groups of threes in large numbers as we would use commas.
Therefore, an Italian bank would be comfortable with a figure like Or perhaps an arcane IP address. Something as natural to us as where to put decimal points and commas turns out to be entirely arbitrary — yet for that reason comes with the potential for a host of nasty consequences. Of course, you might suggest just doing as I did in the above paragraph to clarify the numbers and spell the numbers out in word form. It is interesting to note that this change was enforced overnight in by Dennis Healey, the Chancellor of the Exchequer, who announced that the Treasury was switching with immediate effect to the American system.
Do bear in mind that there are British people of older generations who are still peeved by this development 40 years on. These points may seem like the height of pedantry, but when bad translations concern delicately poised financial markets, chaos can quickly ensue. The infamous case in point came in , when Chinese journalist Guan Xiangdong, a reporter for the China News Service, produced a report commenting on the theoretical impact of an appreciation of the Chinese renminbi currency.
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