Landsbankinn champions Icelandic language in financial reporting while competitors publish in English

Landsbankinn, one of Iceland’s major banks, differentiates itself by publishing all its financial reports in Icelandic, as opposed to Íslandsbanki and Arion Bank, which release their quarterly reports in English. Agnes Vogler, a certified translator working within the bank, emphasizes the importance of providing information in Icelandic, especially for new residents in the multicultural society of Iceland. She believes that as awareness increases about language access, customers are increasingly considering which companies provide services in Icelandic.

Landsbankinn’s commitment to Icelandic reflects its status as a domestic bank serving all Icelanders. While Íslandsbanki and Arion Bank cite foreign market funding and international credit evaluations as reasons for publishing their reports in English, Landsbankinn prioritizes direct communication with its clientele in their native language.

Agnes also notes that all financial information is translated into English from Icelandic for wider accessibility. Advancements in language technology and artificial intelligence are expected to facilitate translation work further, allowing translators to utilize tools that enhance consistency and efficiency without relying solely on AI. Despite the potential of AI, human oversight remains critical to ensure accuracy and context in financial documents.

In summary, Landsbankinn’s dedication to the Icelandic language sets it apart in the banking sector, promoting inclusivity while maintaining a focus on its cultural heritage.