{"id":2367,"date":"2021-01-25T00:00:00","date_gmt":"2021-01-25T00:00:00","guid":{"rendered":"https:\/\/motionpointstaging.wpmudev.host\/?post_type=blog&#038;p=2367"},"modified":"2021-12-15T19:51:44","modified_gmt":"2021-12-15T19:51:44","slug":"how-to-solve-the-challenges-of-website-translation-for-banks","status":"publish","type":"blog","link":"https:\/\/www.motionpoint.com\/blog\/how-to-solve-the-challenges-of-website-translation-for-banks\/","title":{"rendered":"How to Solve the Challenges of Website Translation for Banks &amp; Credit Unions"},"template":"","blog_categories":[107,15],"resource_categories":[27,28,37,30,24,35,33,26,23,32,22,17,29,18],"targeted_localized_audience":[],"document_categories":[],"class_list":["post-2367","blog","type-blog","status-publish","hentry","blog_categories-translation-technology","blog_categories-website-translation","resource_categories-industry-b2b-manufacturing","resource_categories-industry-b2c-manufacturing","resource_categories-content-type-blog-post","resource_categories-business-goal","resource_categories-role-business-strategist","resource_categories-content-type","resource_categories-business-goal-global-expansion","resource_categories-industry","resource_categories-role-marketer","resource_categories-business-goal-optimize-performance","resource_categories-role","resource_categories-topic","resource_categories-industry-travel","resource_categories-topic-website-translation"],"acf":{"article_word_count":"1103","article_read_time":"4","blog_short_description":"Website localization attracts new customers & members\u2014and keeps them, too. Here's a way to easily increase your organization\u2019s relevance within your diverse community.","news_inline_styles":"","blog_video_id":"gkshpmaqjr","article_body":"<p>Many financial institutions serve their U.S. Hispanic customers &amp; members with bilingual telephone support and localized documentation. But far fewer offer localized Spanish-language websites and omnichannel content.<\/p>\n<p><b>That\u2019s a missed opportunity, because:<\/b><\/p>\n<ul>\n<li><a href=\"https:\/\/www.federalreserve.gov\/publications\/2019-economic-well-being-of-us-households-in-2018-banking-and-credit.htm\" target=\"_blank\" rel=\"noopener\">Nearly one-fourth<\/a> of Hispanics are underserved by banks and credit unions, representing an untapped market<\/li>\n<li><a href=\"https:\/\/thefinancialbrand.com\/79546\/data-hispanic-market-financial-marketers\/\" target=\"_blank\" rel=\"noopener\">Nearly 85%<\/a> of Hispanics want to learn more about financial matters, offering financial institutions opportunities to educate and convert customers &amp; members<\/li>\n<li>Hispanic business ownership <a href=\"https:\/\/thefinancialbrand.com\/79546\/data-hispanic-market-financial-marketers\/\" target=\"_blank\" rel=\"noopener\">is at an all-time high<\/a>, making entrepreneurs ideal candidates for loans<\/li>\n<li>Hispanics <a href=\"http:\/\/hispanicwealthproject.org\/downloads\/2020-SHWR-Annual-Report.pdf\" target=\"_blank\" rel=\"noopener\">are twice as likely<\/a> to invest in real estate than non-Hispanics (9% vs. 4%), and are nearly as likely to invest in retirement accounts (46% vs. 50%)<\/li>\n<\/ul>\n<p>It\u2019s absolutely possible for banks and credit unions to increase acquisition and retention within this thriving, increasingly affluent market. Those that do it best <b>translate their digital experiences<\/b> for Spanish speakers.<\/p>\n<h2>CX Translation Can Be Challenging<\/h2>\n<p>Unfortunately, finding the right digital-content translation solution is much harder than most organization leaders think.<\/p>\n<p>That\u2019s because most of the third-party translation technologies and vendors shift nearly all of the management, technical integration and ongoing translation tasks onto their customers.<\/p>\n<p>This creates unexpected delays and costs that most banks can\u2019t afford \u2026 <b>especially resource-strapped regional institutions <\/b>that often have the most to gain by serving Hispanics.<\/p>\n<p>This is why it\u2019s so vital to find the right translation solution for your organization\u2019s needs. Here\u2019s a quick look at the risks many of these offerings present, and an examination of MotionPoint\u2019s fundamentally better, effortless approach.<\/p>\n<h2>Common Options and Their Limitations<\/h2>\n<p>In the hands of most vendors, the reality of CX localization falls disappointingly short of its potential. Here\u2019s how they most often impact their customers:<\/p>\n<p><b>Multilingual CMSs<\/b> efficiently manage localized instances of websites, but heap tricky, costly workflows on to the CMS\u2019s customers.<\/p>\n<p><b>Traditional translation vendors<\/b> can\u2019t cope with the unique demands of website translation, resulting in significant customer involvement and high translation costs.<\/p>\n<p>Some vendors offer <b>limited \u201cproxy\u201d technology <\/b>that can\u2019t handle complex website technologies. They shift some or all IT integration, translation and operation to the customer.<\/p>\n<p><a href=\"\/integrations\/\"><b>CMS connectors<\/b><\/a> simplify the process of exporting CMS content for translation, but they\u2019re often expensive to acquire, require upkeep and have limited functionality.<\/p>\n<p><b>APIs<\/b> enable integrations between translated content and numerous digital platforms, but they require IT resources to configure, install and maintain.<\/p>\n<h2>MotionPoint\u2019s Approach<\/h2>\n<p>By contrast, MotionPoint\u2019s website and digital-content translation solution is ideal for resource-conscious financial institutions. It was designed from Day 1 to eliminate customer-side effort and continually reduce costs:<\/p>\n<ul>\n<li>Our solution requires negligible IT effort at launch and <b>no ongoing IT effort<\/b><\/li>\n<li>We <b>automatically collect translatable content<\/b> from your origin website on an ongoing basis, with no effort required by you<\/li>\n<li>We <b>preserve your website\u2019s UX, design and functionality<\/b>, with no ongoing effort required from your IT team<\/li>\n<li>We <b>enhance the business performance<\/b> of your localized site with CX, UX and SEO optimizations<\/li>\n<li>We stand up localized websites in <b>as little as 30 days<\/b>, and localize new online content in <b>about one business day<\/b><\/li>\n<\/ul>\n<p>Our solution continually translates your digital content with ISO-certified processes, and displays the proper localized website when a visitor wants to see it.<\/p>\n<h2>Other Differentiators<\/h2>\n<h3>Security<\/h3>\n<p><b>MotionPoint safeguards the privacy of your users. <\/b>Simple, easy-to-implement customizations ensure that our solution doesn\u2019t access or store any personally identifiable information.<\/p>\n<p>We also support industry-recommended methods that rely on secure encryption protocols for transmitting data on your behalf. We\u2019re also compliant with PCI DSS and other rigorous data protection standards.<\/p>\n<h3>Works with single-page applications<\/h3>\n<p>Many financial websites use complex web applications that analyze users\u2019 behavior to serve up personalized content such as account information, investment updates and more.<\/p>\n<p>These apps are powered by complicated frameworks <b>that are practically impossible to translate<\/b> with other translation solutions.<\/p>\n<p>But our solution efficiently parses translatable text from these applications while preserving their framework logic. After translation, we elegantly reintegrate the localized content back into the applications, ensuring a perfectly functioning, seamlessly localized interactive experience.<\/p>\n<h3>Continuous cost savings<\/h3>\n<p>Translation memory is a database that contains every phrase that\u2019s been translated for a localized website. MotionPoint uses this technology in savvy ways to <b>reduce translation costs on an ongoing basis<\/b>.<\/p>\n<p>MotionPoint\u2019s solution knows where these phrases appear throughout your localized website, and automatically populates the translations everywhere they appear at no additional cost to you.<\/p>\n<p>This smart re-use of existing translations eliminates costs associated with new content translation.<\/p>\n<h3>Independent functionality<\/h3>\n<p>MotionPoint\u2019s solution seamlessly operates alongside\u2014<b>but doesn\u2019t integrate with<\/b>\u2014your technology stack. This means can increase investments in your current CMS, or switch platforms altogether, without it impacting the performance of your multilingual site.<\/p>\n<h3>And much more<\/h3>\n<p>MotionPoint also offers:<\/p>\n<ul>\n<li><a href=\"\/integrations\/\">CMS connector<\/a> and API capabilities to accommodate customers\u2019 unique needs<\/li>\n<li>The ability to detect and translate third-party content, graphics, multimedia and dynamic content<\/li>\n<li>Flexible translation options that leverage human linguists, neural machine translation, or both<\/li>\n<li>Capabilities to localize content in all channels, including secure user portals, mobile applications, social media, retail location kiosks and more<\/li>\n<\/ul>\n<h2>Conclusion<\/h2>\n<p>Serving Hispanics in the languages they prefer represents <b>a major growth opportunity<\/b> for financial institutions. MotionPoint\u2019s approach helps increase your organization\u2019s reach and relevance within the growing and thriving U.S. Hispanic market.<\/p>\n<p><a href=\"https:\/\/www.motionpoint.com\/contact\/\">Contact us<\/a> if you\u2019d like to learn how we can help your organization.<\/p>\n","article_body_code":"","news_image":{"ID":23674,"id":23674,"title":"Hero_Best-in-Class__Website_Translation_Solution.jpg","filename":"Hero_Best-in-Class__Website_Translation_Solution-1.jpg","filesize":104893,"url":"https:\/\/www.motionpoint.com\/wp-content\/uploads\/Hero_Best-in-Class__Website_Translation_Solution-1.jpg","link":"https:\/\/www.motionpoint.com\/blog\/how-to-solve-the-challenges-of-website-translation-for-banks\/hero_best-in-class__website_translation_solution-2\/","alt":"","author":"2","description":"    \t","caption":"","name":"hero_best-in-class__website_translation_solution-2","status":"inherit","uploaded_to":2367,"date":"2021-01-25 00:00:00","modified":"2021-01-25 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to Solve the Challenges of Website Translation for Banks & Credit Unions","meta_description":"MotionPoint solves the operational complexity and cost of website localization.","meta_keywords":"","blog_author":[{"ID":33917,"user_firstname":"Reagan","user_lastname":"Evans","nickname":"reaganevans","user_nicename":"reaganevans","display_name":"Reagan Evans","user_email":"revans@motionpoint.com","user_url":"","user_registered":"2023-05-26 14:06:13","user_description":"Reagan Evans is MotionPoint\u2019s SVP of Sales. He has a strong background in sales and data management and has nearly 10 years of executive level experience in the field. He uses his expertise in global sales, new business development, sales production, and data organization to drive MotionPoint's market expansion and new client acquisition. Evans leverages MotionPoint\u2019s industry-leading technology to drive sales and ensure higher customer satisfaction.","user_avatar":"<img src=\"?1768515579\" class=\"gravatar avatar avatar-96 um-avatar um-avatar-uploaded\" width=\"96\" height=\"96\" alt=\"Reagan Evans\" data-default=\"https:\/\/www.motionpoint.com\/wp-content\/plugins\/ultimate-member\/assets\/img\/default_avatar.jpg\" onerror=\"if ( ! this.getAttribute('data-load-error') ){ this.setAttribute('data-load-error', '1');this.setAttribute('src', this.getAttribute('data-default'));}\" loading=\"lazy\" \/>"}],"keep_learning_cards":false},"_links":{"self":[{"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/blog\/2367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/types\/blog"}],"wp:attachment":[{"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/media?parent=2367"}],"wp:term":[{"taxonomy":"blog_categories","embeddable":true,"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/blog_categories?post=2367"},{"taxonomy":"resource_categories","embeddable":true,"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/resource_categories?post=2367"},{"taxonomy":"targeted_localized_audience","embeddable":true,"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/targeted_localized_audience?post=2367"},{"taxonomy":"document_categories","embeddable":true,"href":"https:\/\/www.motionpoint.com\/wp-json\/wp\/v2\/document_categories?post=2367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}