Introduction
In the dynamic BFSI (Banking, Financial Services, and Insurance) sector, reaching a wider audience and promoting financial inclusion has become crucial. With increasing demands for accessible, personalised experiences, content localisation is more than just a translation effort, it’s a strategic approach to connect with audiences across diverse linguistic, cultural, and legal landscapes.
Localisation ensures that every customer, no matter where they are, can access and understand financial services, creating a sense of inclusion. This blog outlines the key localisation strategies BFSI companies can adopt to increase their reach and foster financial inclusion.
To engage a global audience, BFSI companies need to communicate in ways that reflect local customs, languages, and expectations.
2. Personalised Financial Services:
People make financial decisions with trust, which is fostered when communication is accessible and in their native language.
3. Legal and Regulatory Compliance:
Countries often require BFSI companies to provide content in local languages for transparency and adherence to local regulations.
4. Enhanced Accessibility for Financial Inclusion:
Localised content empowers underserved communities, fostering a sense of inclusivity and access to essential financial services.
Key Challenges in Localising BFSI Content
1. Navigating Complex and Evolving Regulations:
Financial regulations vary widely and frequently change, requiring companies to keep localised content updated.
2. Ensuring Consistent Messaging Across Regions:
Balancing a consistent brand voice with localised adaptations can be challenging but necessary for credibility.
3. Managing Costs and Resources:
Localising for multiple markets demands resources, time, and advanced technology.
Solutions to Overcome Localisation Challenges
A. Utilising AI and Automation
Advanced AI tools, such as NLP (Natural Language Processing) and machine translation, streamline and automate the localisation process, making it scalable and cost-effective. Automation reduces manual work, ensuring faster, more consistent adaptation across multiple languages.
B. Cultural Adaptation and Visual Localisation
Beyond language, cultural adaptation involves adjusting visual elements, currency formats, and date settings to fit regional norms. Customising imagery, iconography, and even colour schemes for cultural relevance enhances user experience and ensures acceptance in diverse regions.
C. Maintaining Quality with Human Review
Even with AI, human oversight is essential for quality. Regular reviews and validation by skilled linguists ensure that the content aligns with industry standards and resonates with the intended audience.
D. Multichannel Consistency
Localised content should remain consistent across all customer touchpoints, websites, mobile apps, emails, SMS notifications, and social media. Coordinated messaging ensures a unified experience across channels while honouring regional differences.
How Feltiv Supports BFSI Localisation Goals
Feltiv’s solutions are specifically designed to meet the demands of BFSI localisation, with efficient tools that simplify and streamline the localisation process:
1. AI-Powered Translation and NLP
Feltiv harnesses AI-driven translation tools to manage multilingual content quickly and accurately. NLP algorithms help interpret context, ensuring language accuracy and nuance across all content.
2. Comprehensive Quality Assurance
Feltiv provides human review and quality control to guarantee that the final content is linguistically accurate, culturally relevant, and compliant with local regulations. Our QC processes are streamlined to maintain high standards, from document translation to customer communications.
3. Scalable Multichannel Management
Our platform offers seamless localisation for websites, apps, social media, and more. With Feltiv, BFSI companies can efficiently manage localisation across multiple channels, ensuring cohesive communication tailored to local preferences.
4. Data-Driven Insights for Continuous Improvement
Feltiv provides insights on customer interactions, helping BFSI companies refine their localisation strategies. Data analysis aids in understanding how different regional audiences engage with content, enabling better targeting and engagement strategies.
Conclusion
Content localisation is more than an option, it’s essential for extending BFSI services to wider audiences and supporting financial inclusion. By tailoring communication to resonate with regional audiences, BFSI companies can enhance access, build trust, and strengthen relationships. Adopting advanced localisation tools, such as Feltiv’s AI and NLP-driven solutions, ensures accuracy, consistency, and compliance across markets.
Ready to elevate your BFSI content strategy with impactful localisation? Sign up for a free trial or contact Feltiv for a free demo and make financial services accessible for everyone.
