Lingua Custodia develops its first machine translation engine specialised in the Insurance domain with Foyer Group

PRESS RELEASE 

Paris, 30 October 2019 – A few weeks after the opening of its Luxembourg branch (see Press Release dated October 3, 2019), Lingua Custodia signs a contract with Foyer Group, the leading insurance company in Luxembourg, to develop its first machine translation engine specialised in the Insurance domain.

Lingua Custodia Luxembourg was inaugurated last 10 October to drive Lingua Custodia’s development on the European market. Under Frédéric Moioli’s leadership, the team has already been expanded with two new joiners and a third recruitment will be completed by the end of the year. 

Olivier Debeugny, Founding CEO, said:

“The development of this new machine translation engine illustrates our commitment to covering all the linguistic needs of the financial industry. Our collaboration with the Foyer teams is a perfect illustration of our DNA as a Fintech company: to help financial institutions to spend less time and money in translation and communicate rapidly and effectively with their clients, whatever their native language may be.”

Read the Press Release from Foyer Group

More about Lingua Custodia

Lingua Custodia was founded by former asset management professionals. The Fintech company builds machine translation engines specifically designed for the financial industry and specialised by type of document/linguistic sub-domain. The aim is twofold:  cater to the full spectrum of industry needs and achieve a superior translation quality thanks to highly domain-focused deep learning algorithms. The result: tapping into an estimated market potential of 1 billion euros in Europe alone.

It offers a full range of services, with around 100 specialised engines available in 9 languages: French, English, German, Spanish, Italian, Dutch, Portuguese and more recently, Chinese and Japanese.  The company presides over accounts with more than fifty clients, including heavyweights from the French and Global banking industries.

Lingua Custodia – the language custodian in Latin – has been recognised as a Young Innovative Company by the French Ministry of Research, certified by Finance Innovation since 2014 and is one of the founding members of the France Fintech association created in 2015. The company is also a member of the LHoFT (Luxembourg House of Financial Technology) since 2018.

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