Fintech App Localisation
Fintech (financial technology) is a highly dynamic field and fintech app businesses must always find new ways to stay ahead of competitors and attract users. Hiring professional translation agencies to localise financial applications usually unlocks huge market potential, but it is also important to note that app localisation is a really challenging process. This article will briefly explain the main objectives of fintech app localisation and point out what finance technology businesses should keep in mind when they select a localisation service agency to translate their mobile applications.
Benefits of fintech application localisation
What are the objectives of fintech app translation? Probably the first thing that comes to one’s mind is that translation is a prerequisite to reach out to foreign clients who do not understand the original language of a certain app. That is certainly correct, but it is not only about clients’ language capacities as such, but also about offering the app in their native language: Research clearly shows that even bilingual consumers who perfectly understand languages such as English, typically strongly prefer to read texts in their native languages and make purchase decisions based on the availability of content in the language that they grew up with.
Translation also ensures that clients fully understand the app content (such as explanations on various payment options, data transfer, etc.), which will ultimately lead to higher client satisfaction levels. When a fintech business offers its app solutions abroad, localising the app is usually even legally required, for example to ensure compliance with local laws on financial transactions, etc. That is why from both a competitive and a legal perspective, fintech app localisation is indispensable when you offer your solutions abroad.
Furthermore, localising apps is not only essential to approach foreign markets, but it can also drastically increase domestic market shares of fintech businesses. Imagine, for example, that a payment app in the US market is solely available in English. If a competitor offers a similar payment application with options to use it in English, Spanish and Chinese, immigrants from Latin American countries or China with limited (or even no) knowledge of English will immediately flock to thatcompetitor so that they have an appin their native languages.
Finance application localisation – a highly complex process
The benefits of fintech app localisation are clear, but the way to a perfectly localised financial app is very complicated. In fact, only few localisation service agencies can truly claim to have what it takes to live up to the expectations that finance businesses have when it comes to app translations. What do translation agencies need to fulfil the sophisticated requirements of financial app localisation?
First of all, a localisation agency must have qualified linguists who truly excel in banking and finance translation. Translators often need years of experience to qualify for banking translation services and must truly understand the intricacies of financial document translation (please click here to find out more about the challenges of financial translation services). It is also important to note that when it comes to financial matters, many users tend to be cautious and pay attention to all sorts of small details. Providing professionally translated, error-free content is therefore also a way to demonstrate clients that the app developer is serious about its businesses and trustworthy.
Besides considering the specific requirements for finance translation, not only the translators, but also the agency management must accommodate the complexities of app localisation. Translating mobile phone applications simply comes with its very own challenges. For example, when the syntax rules of the source and the target language are different, sometimes the entire user interface has to be rearranged. Another frequent difficulty is about text length restrictions (for example 15 characters for a button on the user interface or 300 characters for a comment box – which means that there is not always enough space, particularly in languages such as German). There are many more challenges in this process and you can click here to find out more about technical aspects of app localisation. In such cases, IT engineers will work on solutions. That is why app developers should always select a localisation agency that has experienced IT engineers on board to consult and align the workflow.
Not only linguists and IT engineers, but also experts in other fields are involved in successful fintech app localisation. For this reason, selecting a localisation agency with a broad service portfolio will generally prove to be extremely beneficial, for example to carry out extensive app testing in target languages, to provide multilingual DTP for app marketing collateral, to design local advertising campaigns, etc. Choosing a one-stop service provider will facilitate and smoothen the whole process and save a lot of time, effort and costs.
As financial apps usually come within a context of PR collateral, websites, terms and conditions, technical literature, etc., another important aspect is that localisation service agencies must have a set of technologies at hand to guarantee consistent terminology usage for all documents that are related to those apps. This is essential because if you translate a term in one way in marketing collateral, in another way on a website, in yet another way in the actual mobile phone application, etc. users and clients will not understand what it is all about and misunderstandings will be very likely. With the right technologies however, professional agencies will ensure consistency even when a whole team of linguists is involved in the translation process.
Selecting a suitable localisation agency as a prerequisite for success
As briefly outlined above, translating financial apps can unlock enormous business potential as long as you select a reliable localisation service provider with experience in mobile application, banking and finance translation. Because of the complexity of the process, make sure you select a one-stop solution agency that guarantees outstanding quality and is not only capable of handling the app translation itself, but also supplies related services, such as IT, copywriting, testing, etc., to ensure that the market launch of your multilingual app will be a real success.
elionetwork has earned its reputation as a localisation service agency with outstanding quality standards. We offer a broad suite of services and cover all your translation and localisation needs with integrated add-on services, including copywriting, DTP, design, IT, etc., always ensuring consistency and accuracy. Are you planning to localise a finance app and would like to find out about our turnkey solutions? Please contact us now! Our friendly team will be delighted to assist you.