3 mistakes to avoid in Financial Translation

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3 mistakes to avoid in Financial Translation One
of fastest evolving industries is the financial
service industry especially since the
technological revolution. In this day and age,
when everything is becoming global, organizations
that remain confined to a specific region end up
missing out on a lot of lucrative business
opportunities. Language translation agencies are
more important now than they ever were and those
organizations that avail their services have a
definitive edge over others. Given that financial
translation is not a simple task, you need to
hire a company that provides translation
services in Delhi or any other area close to your
location, but you have to make sure that the
company that youre hiring has got the skilled
personnel that can precisely and
effectively translate your companys literature
without any flaws or discrepancies. Let us take a
look at some of the common mistakes that one
must avoid while doing financial
translation. Error in punctuation Translating
numbers seems like an easy enough task, but it
isnt always so. There are minor details, that,
if go overlooked, can create blunders. For
example, a simple misplaced comma can cause a lot
of confusion in financial translation. Lets
take a random number 2,45,879 now, in India, it
is read as two lakh forty five thousand eight
hundred and seventy nine, but in US the same
figure would need to be written as 245,879. The
excess comma, if added, would make the number
meaningless. So you need to hire a language
translation agency that is aware of these
nuances. Mistranslation of certain words There
are often words in one language that mean
different things depending upon the context in
which they are being used. If the translator is
not aware of those subtle nuances then it can
lead to blunders. One such incident occurred in
the year 1994. A publication by the name
Commodity News Service published an article
regarding Continental Illinois Bank where it was
state that there had been rumours that a
Japanese bank was planning to take over the
Continental Illinois Bank because of some
financial troubles. When the report was
translated to Japanese, the word rumour became
announcement. As a result, people panicked and
rushed to the bank to take out their money.
It caused a boatload of trouble. Therefore, you
should always hire the best translation services
in Delhi or any other region where your company
is headquartered in. Translation without
context It is very important for the organization
to consult with the language translation agencies
and clearly state the message that they want to
convey otherwise translation can become a
recipe for disaster. Once such incident occurred
in the year 2009, when HSBC bank, which is one of
the largest banks in the world fell victim to
mistranslation. Its slogan that stated Assume
nothing became Do Nothing when it was
translated to other languages. As a result, the
bank had to do rebranding which set it back by a
few million dollars. It is quite evident that
this disaster couldve easily been avoided if the
translator was aware of the context and had
better knowledge of the language. To avoid such
problems for occurring, the best
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course of action is to settle for nothing but the
best when it comes to hiring a translation
agency. Even if it costs you a bit more, it can
save you tons of money, which you otherwise have
to spend in fire fighting in case a company that
provides cheap services messes things up for you.
Always remember, spending a few extra dollars in
the right direction can save you from having to
spend a few millions for being stingy.