14 Mar 2022 Sarah Roberts
5min read

Captioning and Transcription for the Financial Industry

In the fast-paced financial world, clear communication of information is critical. It’s important to ensure that the information and messages members of the financial sector share via media outlets and their websites reach broad audiences effectively while accommodating today’s diverse preferences for content consumption. 

Verbit crafted its captioning, transcription and translation solutions to meet financial institutions’ unique needs and to serve as an essential partner to these organizations. Here are a few ways that the financial industry can greatly benefit from using Verbit’s solutions to communicate clearly and engage with their audiences.

Earnings Calls and Investor Relations

Creating engaging, professional video livestreams of earnings calls is a great way to showcase the work a company is doing and build trust and confidence with investors. Rather than reading off slides or providing lackluster audio-only earnings calls, presenters can use video feeds that give their business a human face. 

Forging a connection with the company’s leaders and potential investors is an advantage. Investors often buy-in based on their assessment of the people behind the brand. However, many who tune in to these meetings or calls may need or prefer to participate with live captions or have a transcript to reference after the call. Verbit offers financial institutions highly accurate real-time captions they can trust for word-for-word capture of the dialogue. Verbit also delivers searchable transcripts to customers like The Motley Fool that allow investors to find the information they need effortlessly. 

Man in suit drinking coffee

Marketing and Customer Education 

Investment banks, financial advisors, researchers and others need to promote themselves to their potential clients. Effective online marketing strategies include audio and video marketing content geared toward investors, customers and partners in order to educate them. Many of the industry’s major players now offer online content that breaks down everything from Investing 101 to in-depth analysis of current events on specific markets. Financial companies are using YouTube, webinars and podcasts at greater frequencies.

YouTube Videos

Statistics suggest there are around 210 million YouTube viewers in the US alone. Several financial institutions have used the platform to connect with their audiences and to offer educational resources related to investments and financial health. For example, the Bank of America has an active YouTube channel where they post about how to use their mobile app, climate responsible investing and much more. Their most popular videos have millions of views, and their channel has more than 100,000 subscribers.

Webinars

US Bank holds frequent live webinars on financial topics, including buying a home, avoiding cyber threats and planning for retirement. These live webinars then become on-demand videos that audiences can watch at their leisure.

Podcasts

The popularity of podcasts has ballooned in recent years. Leaders in the financial industry are tapping into this form of media to connect with millions of people. In fact, wealth management service provider Goldman Sachs currently produces three separate podcasts offering financial and investment advice.

Captions and transcripts promote accessibility and increase the potential audience size in all of these content forms. In some instances, offering this tool may be required because of accessibility laws. 

Cityscape at night

Accessibility and the Financial Industry

To increase the reach of video, livestreams and audio content, more financial institutions are ensuring they deliver these assets with captions and transcripts. However, these features are also vital for accessibility because they offer an equitable experience to people who are Deaf, hard of hearing or navigating additional disabilities.

Additionally, captions are useful for people tuning in to talks in non-native languages, can greatly assist people with an array of learning disabilities, and offer more flexibility to those who prefer to view with the sound off. Studies also indicate that everyone benefits from captions, which increase retention and comprehension. 

Although the broad use-cases for captioning are leading to it becoming a standard accommodation, it’s also important to point out that offering this service may be mandatory because of accessibility laws like the Americans with Disabilities Act (ADA)

Meeting the Needs of Employees with Disabilities

Financial institutions in the US need to comply with the ADA, which prevents discrimination against employees and potential employees with disabilities. Institutions in other parts of the world, like the UK, the EU, Canada and Australia, face similar legislation aimed at ensuring accessibility for people with disabilities. 

Employers, including private businesses, may need to offer captions for work-related training videos, video conference calls and more. Failing to adhere to the ADA can lead to serious legal complications – not to mention bad press.

Accommodating Members of the Public

When it comes to web accessibility, the ADA’s guidance is less clear. In fact, the landmark accessibility law doesn’t directly mention online accessibility. The lack of regulations may seem to suggest that companies don’t need to offer such accommodations. However, some recent lawsuits indicate that a lack of online accessibility can be a violation of the law. In fact, renowned podcast platforms, including SiriusXM and Pandora, are facing lawsuits related to their lack of transcriptions. 

While there might be some gray areas when it comes to what’s required online, the reality is that offering these tools isn’t just the right thing to do, it’s also smart business. For instance, in the world of finance, many of the most active investors fall into an age group with particularly high hearing loss rates. Offering captions on earnings calls and meetings can reduce frustration among this critical demographic.

Verbit serves as an essential partner to financial institutions looking to reach wide audiences and support the public’s diverse needs for access and equity. Contact us to learn more about how our efficient accessibility solutions, including captioning, transcription and translation for your audio and video content, can support your efforts and grow your audience base worldwide.