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As of January 3rd 2018, companies in the financial industry operating in Europe are required by law to fully comply with the new MiFID II regulation. A good portion of the new rules requires translating various documents for a multilingual audience.
With that in mind, here are four reasons why you need neural machine translation to help you lead your compliance project to success:
1 – Effortlessly translate detailed information on tons of transactions
2 – Easily provide investors with multilingual research reports and articles
3 – Produce E-Learning and other company material to educate employees across the EU on complying with these new regulations
4 – Translate contracts and other official investment documents
You can find the whole infographic here.
1 – Effortlessly translate detailed information on tons of transactions
In order to increase the transparency of European financial markets, the new regulation requires banks, asset managers and traders to report detailed information on trillions of euros of transactions. This massive amount of information has to be translated and made available to investors their languages. Machine translation can help by translating documents seamlessly and securely while being powered by a specialized translation engine that understands the industry’s specific terminology.
2 – Easily provide investors with multilingual research reports and articles
According to The Independent, investors often make their decisions on whether to invest in a certain stock based on research reports. The same source states that they are reluctant to invest in SMEs with low level of research available. Therefore, financial institutions must draft even more reports to convince a diverse pool of investors from different backgrounds and languages. Once again, the ability to translate documents in bulk in many languages becomes a useful feature to get the job done.
3 – Produce E-Learning and other company material to educate employees across the EU on complying with these new regulations
In order to fully implement the changes, global financial companies will need to educate all their employees on the different rules stated in MiFID II. According to Slator, companies will likely have to create E-learning curriculum and other types of content in multiple languages so that everyone understands and implements the new rules with the highest accuracy. Your company is no exception.
4 – Translate contracts and other official investment documents
Legal matters in the financial industry must be handled with care and companies have to take appropriate measures to ensure that contracts and other investment documents are well-written and translated accurately in the chosen target languages.
The new MiFID II regulation brings enormous changes to the financial industry and European companies are required to quickly adapt and fully comply with them. Many of the changes required by this new regulation involve translating documents in many languages, formats and lengths. With SYSTRAN’s advanced and secure machine translation server, your company can benefit from bulk document translation, a combination of 140+ language pairs, a neural engine that adapts to your business needs and much more.
Get in touch with us today to see how we can help you navigate these changes and ultimately boost your business.
