Financial translation is a strategic challenge for your company. Your teams need to translate financial, legal and commercial documents into several languages within a short time frame, with no margin for error.
At the same time, traditional translation solutions can be expensive and struggle to deliver within the tight time frames which are necessary for production. Result: Translation becomes an operational bottleneck.
In this article, you will discover how to meet the challenges of financial translation by relying on AI, and how a specialised artificial intelligence model can allow you to reconcile speed of execution, quality of translations and risk control.
Your company may face several challenges in financial translation.
Increasing regulatory requirements to translate your documents into different languages. This work either mobilises your teams internally or requires a substantial budget to outsource translation to specialised agencies. In both cases, the translation process is time consuming, requiring a number of additional controls to ensure the translation quality.
A second challenge is the sensitivity of the content to be translated, which requires an extremely high level of confidentiality. Your financial documents contain strategic data from your customers or contractual elements: You are legally required to ensure the security of this information.
The terminology consistency for the translation is another critical issue, as financial language is based on complex and technical vocabulary. An approximate translation may have far reaching implications and may change the interpretation of a risk, contractual commitment, or performance indicator. There needs to be terminological consistency between all your documents.
Additionally, your company must translate financial documents into "rare languages". The difficulty is then to find a service provider or employee who has the dual ability to translate into the language sought and to master the financial language.
A final challenge concerns the conservation of formatting. Your financial contents are not just blocks of text: They contain complex tables, diagrams, annotations... the formatting of which needs to be maintained.
Traditionally, financial services companies combine several approaches to translating their documents.
Some internalise the translation work with their teams. However, employees are no longer able to absorb this growing workload which diverts them from high value-added assignments.
To save time, teams rely on general translation engines. Although they are effective in translating standard content, these tools are not designed to master the subtleties of the financial language. Their translations may include approximations, misstatements, or inconsistencies. The translation needs to be carefully reviewed, as there is a risk of allowing potentially harmful regulatory, legal, or commercial errors to pass.
Moreover, these solutions restore the translation in the form of raw text or alter the structure of the document: Broken tables, displaced patterns... which implies a major work of restructuring the content.
The use of such solutions also involves security risks. Many translation services rely on public cloud infrastructures hosted outside Europe. Your information can therefore be exposed to non-European regulations (such as the Cloud Act in the US), which allow foreign authorities to view your documents under certain conditions. This is unacceptable to your customers and your company.
Specialised translation agencies can guarantee the quality of translation of your documents. However, translation costs can be significant, particularly if the translation deadline is urgent.
Dragon LLM is a Sovereign Artificial Intelligence Model, specifically designed to accurately master financial language.
The platform integrates a turnkey financial translation solution, which allows you to instantly translate any financial file whether it's a Word, PDF, Excel, or PowerPoint document. The tool does not require any configuration and can integrate into your workflows via API.
The model has been trained using European financial and legal corpus in order to understand the financial language in all its nuance and offer unrivalled language quality.
The solution is also able to preserve the format and structure of your documents (tables, titles, legal notes, etc.) during translation.
To date, the model already allows you to translate your content in 15 different languages.
With Dragon LLM's secure translation technology, financial translation is streamlined and cost efficient.