levelling the paying field

DAY 4

vocabularies

1.shake up +an organization/an institution/a profession

(1)If someone shakes up something such as an organization, an institution, or a profession, they make major changes to it.改革

(2)to make changes to an org in order to make it more effective

😶现在在财经领域一般指做出重大改变，造成巨大冲击

Shareholders are preparing to shake things up in the boardrooms of America.

股东们正准备在美国的公司董事会议上作出重大调整。

2.make formal complaints about...对..进行正式的投诉

In BRITAIN alone millions of people make formal complaints each year about their banks.

3.a host of 许多

4.overdrawn account 透支帐户

eg.Apps could warn account-holders if they spend more than a predetermined amount or are about to become overdrawn, or even nudge them to save more.

account-holders账户持有人

nudge sb to do促使某人做

be about to become overdrawn即将透支

predetermined amount预定额

ps.预定额应该是值物品的单价，而透支描述的应是花的钱的总数。

5.retail banking小额银行业务(存款)

To date, despite dire warnings, European retail banking has been remarkably unscathed by technology-driven disruption.

如今，科技导致了很多行业濒临破产。但欧洲的小额银行业务除了一些严重的警告外，竟分毫未损。

be left relatively unscathed by the riots...几乎没受暴乱的影响（unscathed 分毫未损的）

6.do the most of the lending在...中扮演主要角色

Customers stay loyal, and banks still do the most of the lending.

消费者依然忠诚于银行，且大多数人依旧从银行贷款。

7.mount a challenge to.. 发起挑战

Financial-technology("fintech") companies are beginning to mount a challenge.

Financial technology, also known as FinTech, is an industry composed of companies that use new technology and innovation with available resources in order to compete in the marketplace of traditional financial institutions and intermediaries in the delivery of financial services.

FinTech（科技金融）少了些“互联网”的宽泛性，更多集中于“科技”的专注性，核心是用技术驱动金融创新，意味着这一领域逐渐回归到技术的位置。

8.the incumbent mayor现任市长 

  😶 Incumbent传统运营商

One reason incumbents have proved so resilient is that fintech firms lack the customer-transaction information they need to provide many financial services.

传统银行仍然能保持如此强势的原因之一，是互联网金融公司缺少用户的交易信息，所以无法提供更多的金融服务。

resilient sealing system 弹性密封系统

9.have easy access to sth  便于...

Banks ,on  the other hand , have  easy access to transaction data, which  they can use to sell their customers other services.

另一方面，银行很容易就能获得客户的交易数据，这有利于他们向客户提供更多的服务。

10.transform the landscape改变这种情形

Regulators, however , are about to transform the landscape.

11.kick-start economy拉动经济增长

（1）The Payments Services Directive 2(PSD2),due to be implemented by EU members in January 2018,aims to kick-start competition while making payments more secure.

kick-start competition 引发竞争

（2）Payments Services Directive 2  PSD2 – revised Payment Services Directive

The Directive's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users.

①pan-European competition全欧洲的竞争

②a level playing field 公平的竞争环境，相同的起跑线

12.by common consent 经双方达成共识

Provided the customer has given explicit consent.

give explicit consent明确同意

13.tighten up严格要求

Security for payments above €30($32) will be tightened up, with  customers having to provide two pieces of secret information ("strong authentication") to wave through a transaction.

authentication and authorization 鉴别与授权

wave through a transaction完成交易

14.established bank/company 老牌银行/知名公司

None of this is good news for established banks.

15.rock-bottom interest rates 极低的利率

Profitability is already threatened by rock-bottom interest rates.

profitability analysis: 获利能力分析

16.dump-pipes

（1）They fear becoming the " dumb pipes" of the financial system.

（2）"dumb pipe": With regard to a mobile network operator (MNO, or operator), the term dumb pipe, or dumb network, refers to a network that is used simply to transfer bytes between the customer's device and the Internet, while being completely neutral with regard to the services and applications the customer accesses.

A dumb pipe primarily provides simple bandwidth and network speed.

transfer bytes 传输字节

17.leave sb in a weaker position使某人处于劣势

68% of responding banks believed that PDS2 would leave them in a weaker position.

18.lose control of 失去对..的控制

The same proportion feared that they would lose control of interactions with customers.

也有同样多的银行恐惧他们在客户互动时，失去主动权。

19.insured against/for losses from fraud 为诈骗带来的损失投保

And they are also required to be insured against losses from fraud, they will need to convince insurers , too.

😶property insurer: 财产保险公司

20. be subject to服从于

They will not be subject to the same capital and stress-testing requirements banks face : but nor will they be licensed to undertake the riskier business of lending.

😶making capital out of 从..中渔利

21. sth be watered down..被打折扣

But he worries that, as implementation approaches, the rules will be watered down.

22.team up with..与..组队

Santander's British arm, for instance, has  teamed up with Kabbage, an American startup, to offer small companies working-capital loans.

😶working-capital 营运资本，流动资本

23.threat of new entrants 新进入者的威胁

Familiarity, huge customers bases and low funding costs are all attributes entrants want to gain by association, just as banks want to exploit newcomers' technology.

😶customers bases  顾客群  funding costs 集资成本，资金成本

😶essential attribute 基本品质                                                                                    Patience is an essential ~ for a teacher.

😶winning entrant 赢家  The winning ~ received tickets to the movie.

😶a young school entrant 年轻的新生

24.levelling the paying field

transformed from "levelling the playing field"意为创造一个公平的竞争环境

DAY5

I. Translation

神句

1.New European payments regulation has the potential to shake up the banks.（建议active）

欧洲的新新出台的欧洲支付规定法规可能使银行不得不改革遭受巨大冲击。

【新出台的欧洲支付法规有可能会给银行业带来巨大冲击。】

😶Shake up 一般指带来重大改变

Technology is shaking up every industry that we can conceive of.

科技为我们能想到的任何一个行业都带来了重大改变。

😶单词辨析：

rule一般规则

（fire）statute （正式）法规

（traffic）regulation（交通）法规

（supplementary）provision（补充）条款

2.European rules will open the door to a host of innovative services that analyze transactions.(建议active)

欧洲的新规定[法规]会为许多分析客户交易情况的创新业务敞开大门【带来更多机遇】。

【欧洲法规将给交易分析相关的创新服务带来更多机遇。】

open the door means to give someone new opportunities

（1） (sometimes + for ) The success of that film opened new doors for him.

（2）(sometimes + to ) Early results show that the new system would open doors to disadvantaged people.

3.Customers need barely ever interact with their bank.

客户不再需要继续和银行打交道。/客户一定要和银行打交道的时代已经结束。

【客户几乎都不需要通过银行。】（sb need barely ever interact with their bank.）

4.European retail banking has been remarkably unscathed by technology-driven disruption.

如今，科技导致了很多行业濒临破产，但欧洲的小额业务银行零售银行业竟在技术变革的情况下分毫未损。

【①技术带来的变革对欧洲零售银行业(retail banking)产生的影响微乎其微。（化被动为主动，突出了核心信息 remarkably unscathed）

②欧洲零售银行业几乎并没有受到技术变革的影响。】

(1)disruption 颠覆

technology-driven disruption技术变革

(2)Retail banking, also known as consumer banking, is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. The term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking. It may also be used to refer to a division or department of a bank dealing with retail customers.

😶debit cards  借记卡

😶investment banking投资银行业务

😶commercial banking商业银行业务

😶wholesale banking批发（大金额）银行业务

5.Fintech companies are beginning to mount a challenge, most conspicuously in the online-payments industry in northern Europe. But their reach is more limited elsewhere in Europe.

科技互联网金融公司已经开始向传统银行展开进攻发起挑战，最显著的例子便是北欧的在线支付产业兴起。然而在欧洲的其他地方，他们却未能成功的影响就要小得多。

【互联网金融公司已经开始发起挑战，尤其是在北欧线上支付领域。但对欧洲其他地区的影响则要小得多。】

reach作名词时和influence一个意思，用来表达影响的范围。（active）

Eg. Victory is now out of her reach. /The company has now overtaken IBM in terms of size and reach./Such matters are beyond the reach of the law.

6.Regulators, however, are about to transform the landscape.

但是监管机构已经打算即将改变这种情形。

【然而，监管部门即将改变这一现状。】

※ landscape原意是风景，景色，地貌，此处也是暗喻的用法，衍生为局面，局势。所以哦，衍生意思和原意都有一定联系，稍加联想，便不难理解。这种用法非常非常普遍，建议内化。

Recent electoral shocks have shaken the European political landscape.

最近的选举风波震动了欧洲政坛。

7.Banks’ lockhold on payments serves as a handy source of income.

银行对客户存款支付领域的牢牢掌控就是使他们获得收入有效的轻而易举赚钱的方法之一。

【牢牢把控支付领域使得银行轻而易举就能赚钱。】

(1)lockhold: lock锁住， hold紧握，加在一起就是牢牢把控的意思,需要联想体会

※(2)handy:表示就在手边，方便容易，唾手可得，联想它的原形hand好好体会一下。

Eg. Always keep a first-aid kit handy.跟前要常备急救箱/handy little tool好用小工具

※（3）翻译问题：①a handy source of income在原文作宾语，在翻译时将其作为动词【轻而易举就能赚钱】在此处更合适。

②serve as 无需死板地译为:作为...，应根据语境选择更为合适的词。

8.Resistance is manifested as a concern about data protection. Such concerns are legitimate but also, argue fintech supporters, offer a convenient excuse for banks to block competition.

抗拒出于对数据安全性的考虑，整个行业对新进公司的审核增强了。科技互联网金融的拥护者认为，虽然这种忧虑合情合理，但却让银行毫不费力便有了拒绝参与抵制竞争的绝佳借口。

【抗拒源自对数据保护的担忧，这是合情合理的。但互联网金融的支持者们认为，这也是银行抵制竞争的绝佳借口。】

※翻译问题：调整译文语序使其更符合目标语言的形式。

9.Yet for all their complaints, customers still trust banks with their money.

尽管客户对银行的抱怨诸多，他们依然更信任会把钱存进银行。

【尽管客户怨声载道，但他们依然更信任把钱放在银行。】

For all 表示尽管，虽然，等于despite.  Eg. For all its clarity of style, the book is not easy to read.

10.Familiarity, huge customer bases and low funding costs are all attributes entrants want to gain by association, just as banks want to exploit newcomers’ technology

就像银行想充分利用新进企业的技术一样，新进企业也想通过与传统银行合作获得较高的知名度，庞大的客户基础和的较低的资金成本。

11.Physical payments are still overwhelmingly made with cash or bank cards.

人们在进行线下支付时时，仍然倾向于使用现金或银行卡。

😶physical payments 线下支付

神词组:

😶become overdrawn:透支

😶nudge them to save more  促使/鼓励他们多存钱

😶have easy access to: 更容易获得便于……

😶kick-start competition: 推动引发竞争

😶give explicit consent  明确同意

😶one-click bank transfer:一键转账

😶low-value payments:较小金额的付款小额支付

😶tighten up security:严格保证/加强安全

😶guide them toward:引导向...

😶rich data:丰富的数据

😶leave them in a weaker position:使他们处于劣势

😶robust data-protection system: 强大的数据保护体制

😶insured against losses from fraud: 为欺诈带来的损失投保/投保以防欺诈造成的损失

😶perfect on paper: 看起来毫无缺陷理论完美！暗示实际操作起来可能困难重重。

😶team up with:与...联合

😶exploit newcomers technology:充分利用新来公司的后来者技术

Ⅱ.思维导图

DAY 6

summary

😶文章内容：" levelling the  paying field”围绕”fintech companies”及”retail banks”的恩怨纠葛展开。互联网金融公司在除北欧之外的欧洲地区仍得不到广泛利用：顾客还是更偏爱银行、对其数据安全保护能力的怀疑、薄弱的消费群等等.......而零售银行的优势却正好是其的劣势。其实，在这种情况下，通过相互合作来互补，最后为消费者提供一个更好的消费环境才是最终目的。

😶翻译：

①模糊了一些词的概念，如rule,regulation...

②翻译错误问题：如 be about to 原本是“即将”之意，却译成了“已经”；

③没注意到在源语和目标语转换终调整语序的问题

④有些词译得太死板：如serve as

😶思维导图：还有很大的进步空间 得多思考、提取有效信息

😶小感：

Sometime we would feel unwilling to accept something new: the Internet, smart phones, online payments and AI, thinking  they would pose threats to our future, either  in our less interactions with others, or a larger scale of unemployment or easily becoming outdrawn. We  do not want to be subject to them. Admittedly, they  do or they will bring us many troubles, nudging  human beings to think about the true meaning of their lives, like, for  example, if  robots can be competent to all kinds of jobs, what should we do? Or  what can we do? Few of us will be willing to stay at home around clock tapping their phones.We refuse robots’ entry into our lives because we fear we’ll become useless(Or we fear to find how useless we are). So, they urge us to make progress and not stand still , playing around for nothing. When you find something threatens you, actually, it is opening the door for you.