The rapidly globalizing world economy with ever increasing trade and capital flows across national markets are creating new opportunities for financial services companies to diversify and globalize their services. Financial institutions today can sell insurance products and services far beyond their home market and banks benefit from increased cross-border transactions, resulting from drastically lower transaction costs. However, to effectively compete in the international market and to capitalize on new global opportunities, financial services organizations must rely on strong cross-language communications and tailor their products/services to meet the cultural and linguistic requirements of a global audience. Fortunately, both of these challenges can be effectively addressed by CSOFT's globalization solutions specifically tailored to the financial services industry.
Globalization Solutions Tailored to the Financial Services Industry
CSOFT’s financial services practice (FSP) group has both the linguistics expertise with subject knowledge in financial disciplines and best-of-breed technology and processes for localization to provide quality and affordable multilingual communication solutions for our clients. CSOFT's in-country language professionals have the training and field expertise necessary to fully understand the unique requirement of the financial services industry to provide the highest quality translation. Coupled with our competitive L10N engineering, publishing and project management, our FSP group delivers the perfect solution to help our clients communicate to an ever more global audience with quality and affordable cost.
Global consumer banking is evolving rapidly. The rise of controversial new currencies like Bitcoin to alternative payment systems like PayPal, Square, and Alipay are beginning to disrupt a long established industry. Some of the most exciting banking innovations over the past several years have occurred in the Asia & Eastern Europe and not in the U.S. or U.K. Banks are starting to look beyond our shores for innovative ideas, learning from overseas organizations that in some cases are far ahead of US offerings. While it’s still too soon to predict which trends will prevail CSOFT will watch with interest and continue to provide both localization and globalization consulting services to the international banking sector in the years to come. CSOFT regularly works on customer service letters, contracts, disclosures, eLearning, marketing collateral and sensitive documents in this highly regulated sector.
Investment banking have seen substantial changes in the past few years. Whether it’s the “sell side” or “buy side” CSOFT has the experience you need to handle your investment banking translation needs. CSOFT provides a suite of services including regulatory/compliance documentation, KIIDs, PPMs, Financial Reports, marketing materials, annual reports and nearly everything you need to both remain in compliance and to reach new multi-cultural customers.
Savvy Insurance companies understand that having easy-to-understand, multilingual insurance collateral can open up new opportunities and lead to increased profits. They also understand not doing so can have severe consequences for those unaware of local laws and regulations. For example in California, insurers must be in compliance with SB 853 mandating that health insurers provide language assistance at hospitals and healthcare locations. It also states that language service providers must be sure that translations provided to healthcare organizations are in compliance to SB 853 requirements and performed by credentialed subject matter experts with extensive industry knowledge. CSOFT offers a suite of certified services to the insurance industry including globalization consulting and the technical translation of policy documents, education materials, website collateral, brochures, claims and other insurance documentation.
Understanding the most current terminology is critical to working in the complex world of corporate finance. CSOFT is the recognized leader in multilingual terminology management and maintains a live, online database containing tens of thousands of terms related to the financial services world. We have a wealth of experience with both advising and localizing financial statements, audit-related documents, accounting manuals, tax and business advisory materials, certified translations, training materials and marketing collateral for the corporate finance world.
Venture Capital is becoming increasingly globalized and ranges from cross-border investment, international fund-raising, exits on overseas stock exchanges, Global M&A and office expansion to help portfolio companies access new markets. In fact, more than 50% of VC funds in mature VC areas are investing outside their home countries, with most of them maintaining or increasing their investments abroad. Not only have we sat across the table from the world’s leading VC’s but we also help them (and their portfolio companies) to globalize their highly sensitive documents and collateral.
Popular Industry Terms in Financial Services
Terminology glossary powered by TermWiki.com
adverse action notice
The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder.
Bitcoin is a digital currency that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept bitcoins as payment. Originally developed for virtual world payments by pseudonymous developer Satoshi Nakamoto in 2009, bitcoins have seen their values rise to historic highs in recent years.
As introduced by the Bank of Japan during the 1990s, this meant expanding the money supply by open market operations after the nominal interest rate was zero. Since the interest rate could fall no further, the intent was that the quantity of money would directly stimulate aggregate demand.
The emerging economic order within the information society, in which products and services are created and value is added through social networks operating on large or global scales.
BRICS is an international political organisation of leading emerging economies. Its five members are Brazil, Russia, India, China and South Africa (prior to South Africa’s inclusion in 2010, the group was known as BRIC). The BRICS members are developing or newly industrialised countries that have large economies and significant influence on global affairs.
A portmanteau of Abe and economics that refers to the economic policies advocated by the Japanese Prime Minister, Shinzō Abe, to revitalize the country's stagnant economy. Abenomics includes a set of policy measures designed to tackle Japan's macroeconomic problems from the country's prolonged recession, addressing issues such as monetary policy, fiscal policy, and private investment to boost domestic consumption while increasing exports.