The financial industry continues to be a powerhouse in today’s world economy. While no longer the most glamorous and attractive industry for top graduates (that spot would arguably go to technology companies now), financial institutions such as global banks and investment funds still sit in the engine room of global capitalism.
Investment banks help companies go public and arrange multi-billion dollar mergers and acquisitions. Fund and asset managers allocate trillions of dollars in capital from the world’s pension funds. Hedge funds try to leverage the capital market’s inefficiencies and generate above market returns. And private banks help the rich manage, and sometimes hide, their wealth.
Then there is commercial banking, providing loans in various forms, cash management facilities and foreign exchange services to large, medium and small enterprises. And the more mundane retail business of savings, personal loans, credit cards and unit trusts, plus maintaining the world’s financial system’s plumbing by facilitating international wire transfers.
While many large financial institutions put the brakes on international expansion after the 2008/09 global financial crisis, banking and finance continues to be a highly globalized business. Therefore, the financial industry continues to be a major buyer of translation and localization services.
For language service providers (LSPs) doing business with the financial services industry, a one-size-fits-all approach will fail. The needs of a Hong Kong investment banker in translating an M&A pitch book from Chinese into English overnight are very different from those of a Geneva-based private banker who wants a quarterly performance report to be translated from English to French.
How large is the total market for language services and technology among financial institutions? Which sectors and units within the financial industry buy language services? What do the decision makers look at when choosing a vendor? How do you prospect for clients within the industry? These are the facets of selling language services to the financial industry that this report will examine.
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Slator 2018 Financial Industry Report
Table of Contents
| Executive Summary | 3 |
| Financial Industry Overview | 4 |
| 4 |
| The Role of Language Services in the Industry | 6 |
| 6 |
| 6 |
| 6 |
| 12 |
| 12 |
| 12 |
| Competitive Landscape | 13 |
| 13 |
| 13 |
| 16 |
| 18 |
| 18 |
| Sales, Business Development, Marketing | 19 |
| 19 |
| 19 |
| 20 |
| Appendixes | 21 |
| 21 |
| Contact | 25 |
How To Use This Report
Slator’s easy-to-digest research offers the very latest industry and data analysis, providing language service providers and end-clients with the confidence to make informed and time critical decisions. It is a cost-effective, credible resource for busy professionals.
Slator In-Person Lead Generation
Slator conceives, plans and executes custom roundtable events to attract a very targeted set of language service buyers in banking and finance. To learn more, contact Slator Commercial Director Andrew Smart at andrew@slator.com
Slator Advisory
Developing a go-to-market sales strategy and building an effective sales team is critical to securing and expanding your client work in the diverse financial services industry. Slator provides a 1-day workshop for LSPs to review their strategy and assess and motivate their sales teams. To learn more, contact Slator Commercial Director Andrew Smart at andrew@slator.com
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