How the Financial Industry Buys Language Services

The financial services industry continues to be a powerhouse in today’s world economy. While no longer the masters of the universe of the late 1980s and mid-2000 —  that torch has arguably passed on to technology companies — global banks, hedge funds, asset managers, and other financial institutions still sit in the engine room of global capitalism.

Investment banks help companies go public and arrange multi-billion dollar mergers and acquisitions. 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.

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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 in the wake of the 2008/09 financial crisis, many large financial institutions put the brakes on international expansion, banking and finance continues to be a highly globalized business. As such, the financial industry continues to be an ever larger buyer of translation and localization services.

For language service providers (LSPs) doing business in the financial services industry, a one-size fits all approach will fail. The needs of an investment banker in Hong Kong looking to translate an M&A pitch book from Chinese into English overnight are very different from a Geneva-based private banker who needs a quarterly performance translated from English to French.

Which sectors and units within banking and finance buy language services and what are the job titles of the people making the decisions?

Slator is pleased to offer our members this introductory guide and help language service providers grow their business in the financial services industry. Download for free.

Slator conceives, plans and executes custom roundtable events to attract a very targeted set of language services and technology buyers in the financial industry and other industry. Download this for more information.

Florian Faes

Co-Founder of Slator. Linguist, business developer, and mountain runner. Based in the Shire, aka Zurich, Switzerland.