Last September, Frédéric took the responsibility of the new subsidiary in Luxembourg and global business development of Lingua Custodia. Three new joiners have reinforced his sales team: Mona, Guillaume and Henry.
What was the reason for creating Lingua Custodia?
The idea arose during a market crisis (2007/2008 Subprimes) when its founder, current CEO Olivier Debeugny, a professional in the asset management industry asked himself a question: how best to simultaneously communicate and reassure clients and partners across the world.
Since inception, we have been developing more than one hundred machine translation engines specialised in the financial domain in 9 languages. Our R&D Lab is working hard to further explore deep learning technology and launch new engines.
A practical example of Verto benefits?
Unfortunately the matter that concerns all of us, personally and professionally: Covid-19 and the market crisis. Verto is a plug-and-play secured web platform, accessible 24/7 which allows to translate all documents in a few minutes. In this crisis period where information needs to be efficiently and rapidly communicated, financial institutions are turning to us on a massive scale to translate communications for both their customers and employees.
Pro and cons of Artificial Intelligence?
When I first joined Lingua Custodia, I was literally blown away by the quality of our machine translation engines. Deep Learning is particularly effective in a highly specialised linguistic domain. This perfectly fits in the financial sector.
We are, however, very vigilant about the required pedagogy to our clients. The Artificial Intelligence too often has the image of a ‘magic’ technology. It is just a powerful mathematical algorithm that calculates probabilities on a scope of big data.
One concrete example: translate “bourse de paris » or « bourse de Paris » into English. This tiny difference – the capital letter – will not prevent our brain to interpret the context and understand the meaning.
Deep Learning algorithm however decodes and probabilises the context. “paris” is most often translated by “bets” and the generic translation should be “bets exchange”. But when “Paris” is associated to the word “bourse”, the probability for our engines specialised in finance that the right translation might be “Paris Stock Exchange” becomes higher than the one of “bets exchange”.
How does Lingua Custodia add value?
Through a combination of deep learning state-of-the-art technology and our database of millions of financial linguistic data on which the algorithms are trained. Financial institutions hold a huge amount of linguistic data. Verto allows them as well to optimise the value of these often-forgotten yet real assets. The more Verto is used, the more it’s (deep) learning. We are the only company providing machine translation 100% specialised in Finance. Large financial institutions are increasingly trusting our Verto solution.
Contact: Frederic Moioli