Finding just the right experienced language service provider for your fintech or cryptocurrency endeavor will help protect your company and your customers. By nature, fintech and crypto companies are global and clear communication is mandatory. Things move fast and competition is fierce. Accuracy in transactions and no-fail security are non-negotiable – in every country. A powerful step toward making sure you get it right everywhere is finding a language service partner who knows your business and can help you navigate the complexities of the industry in other countries.
Just ten years ago, there were seven cryptocurrencies. Bitcoin was the first, established in 2009. Today there are over 23,000*. Some have been around a few years, some are young start-ups, and all hope to establish strong, long-lasting customer bases around the world. Fast, accurate translations of anything and everything necessary for international transactions must be timely and flawless – both the target language and the industry terminology. This is an industry that is exploding and yet you need to invest the time and thought into working out every detail of your international products with close attention, taking no shortcuts.
Security and regulatory compliance are also issues your translator must thoroughly understand, and they in turn can help you understand what you must address in each market. This is a challenge because of the many regulatory variations among countries, and because the field is evolving so quickly that oversight has not yet become standardized. In the U.S., for instance, no single regulatory body oversees fintech or cryptocurrency. In fact, oversight in the form of licensing and regulatory requirements is often handled by a mix of federal, state, and local regulators, with requirements by bank partners added to the mix. And of course the corresponding agencies in every foreign country also have security requirements.
All these conditions mean that Fintech content for documentation, apps, and customer interface is complicated. Fintech translators must understand all the terms, transactions, regulations, and issues in every country, as well as the specific fintech or crypto brand they are translating for. How to create consumer trust for a new financial tool in a new market? Fintech translators have a significant communication gap to bridge, and it takes native knowledge of the target countries and their languages and cultures to do it well, in addition to deep industry expertise.
And at some point, if questions arise, you will want multilingual support to make sure that your investors and customers are hearing what you want them to know. Many uncertainties still circle around fintech and especially cryptocurrency, and sometimes real problems arise. Consider the value of translators and interpreters who can explain complex issues in your customers’ native languages – this is a powerful way to build, or recover, trust.
Adding a knowledgeable Language Service Provider to your team is likely to infuse clarity into every aspect of your fintech or cryptocurrency operation. When care is taken to proceed into new markets, potential investors and customers feel this. By translating everything in the right timeframe with an attitude and accuracy that your customers trust, you build credibility that will increase your market share in a way that no amount of marketing can.
J. V. McShulskis