Daily Papers

Automatic table detection in PDF documents has achieved a great success but tabular data extraction are still challenging due to the integrity and noise issues in detected table areas. The accurate data extraction is extremely crucial in finance area. Inspired by this, the aim of this research is proposing an automated table detection and tabular data extraction from financial PDF documents. We proposed a method that consists of three main processes, which are detecting table areas with a Faster R-CNN (Region-based Convolutional Neural Network) model with Feature Pyramid Network (FPN) on each page image, extracting contents and structures by a compounded layout segmentation technique based on optical character recognition (OCR) and formulating regular expression rules for table header separation. The tabular data extraction feature is embedded with rule-based filtering and restructuring functions that are highly scalable. We annotate a new Financial Documents dataset with table regions for the experiment. The excellent table detection performance of the detection model is obtained from our customized dataset. The main contributions of this paper are proposing the Financial Documents dataset with table-area annotations, the superior detection model and the rule-based layout segmentation technique for the tabular data extraction from PDF files.

We introduce a large language model (LLM) based approach to answer complex questions requiring multi-hop numerical reasoning over financial reports. While LLMs have exhibited remarkable performance on various natural language and reasoning tasks, complex reasoning problems often rely on few-shot prompts that require carefully crafted examples. In contrast, our approach uses novel zero-shot prompts that guide the LLM to encode the required reasoning into a Python program or a domain specific language. The generated program is then executed by a program interpreter, thus mitigating the limitations of LLM in performing accurate arithmetic calculations. We evaluate the proposed approach on three financial datasets using some of the recently developed generative pretrained transformer (GPT) models and perform comparisons with various zero-shot baselines. The experimental results demonstrate that our approach significantly improves the accuracy for all the LLMs over their respective baselines. We provide a detailed analysis of the results, generating insights to support our findings. The success of our approach demonstrates the enormous potential to extract complex domain specific numerical reasoning by designing zero-shot prompts to effectively exploit the knowledge embedded in LLMs.

Accurate information retrieval (IR) is critical in the financial domain, where investors must identify relevant information from large collections of documents. Traditional IR methods -- whether sparse or dense -- often fall short in retrieval accuracy, as it requires not only capturing semantic similarity but also performing fine-grained reasoning over document structure and domain-specific knowledge. Recent advances in large language models (LLMs) have opened up new opportunities for retrieval with multi-step reasoning, where the model ranks passages through iterative reasoning about which information is most relevant to a given query. However, there exists no benchmark to evaluate such capabilities in the financial domain. To address this gap, we introduce FinAgentBench, the first large-scale benchmark for evaluating retrieval with multi-step reasoning in finance -- a setting we term agentic retrieval. The benchmark consists of 26K expert-annotated examples on S&P-500 listed firms and assesses whether LLM agents can (1) identify the most relevant document type among candidates, and (2) pinpoint the key passage within the selected document. Our evaluation framework explicitly separates these two reasoning steps to address context limitations. This design enables to provide a quantitative basis for understanding retrieval-centric LLM behavior in finance. We evaluate a suite of state-of-the-art models and further demonstrated how targeted fine-tuning can significantly improve agentic retrieval performance. Our benchmark provides a foundation for studying retrieval-centric LLM behavior in complex, domain-specific tasks for finance.

For large language models (LLMs) to be effective in the financial domain -- where each decision can have a significant impact -- it is necessary to investigate realistic tasks and data. Financial professionals often interact with documents that are hundreds of pages long, but most financial research datasets only deal with short excerpts from these documents. To address this, we introduce a long-document financial QA task. We augment 7,437 questions from the existing FinQA dataset with the full-document context, extending the average context length from under 700 words in FinQA to 123k words in DocFinQA. We conduct extensive experiments over retrieval-based QA pipelines and long-context language models. DocFinQA proves a significant challenge for even state-of-the-art systems. We also provide a case-study on the longest documents in DocFinQA and find that models particularly struggle on these documents. Addressing these challenges may have a wide reaching impact across applications where specificity and long-range contexts are critical, like gene sequences and legal document contract analysis.

Extracting tables and key-value pairs from financial documents is essential for business workflows such as auditing, data analytics, and automated invoice processing. In this work, we introduce Spatial ModernBERT-a transformer-based model augmented with spatial embeddings-to accurately detect and extract tabular data and key-value fields from complex financial documents. We cast the extraction task as token classification across three heads: (1) Label Head, classifying each token as a label (e.g., PO Number, PO Date, Item Description, Quantity, Base Cost, MRP, etc.); (2) Column Head, predicting column indices; (3) Row Head, distinguishing the start of item rows and header rows. The model is pretrained on the PubTables-1M dataset, then fine-tuned on a financial document dataset, achieving robust performance through cross-entropy loss on each classification head. We propose a post-processing method to merge tokens using B-I-IB tagging, reconstruct the tabular layout, and extract key-value pairs. Empirical evaluation shows that Spatial ModernBERT effectively leverages both textual and spatial cues, facilitating highly accurate table and key-value extraction in real-world financial documents.

Recent research has shown that smaller language models can acquire substantial reasoning abilities when fine-tuned with reasoning exemplars crafted by a significantly larger teacher model. We explore this paradigm for the financial domain, focusing on the challenge of answering questions that require multi-hop numerical reasoning over financial texts. We assess the performance of several smaller models that have been fine-tuned to generate programs that encode the required financial reasoning and calculations. Our findings demonstrate that these fine-tuned smaller models approach the performance of the teacher model. To provide a granular analysis of model performance, we propose an approach to investigate the specific student model capabilities that are enhanced by fine-tuning. Our empirical analysis indicates that fine-tuning refines the student models ability to express and apply the required financial concepts along with adapting the entity extraction for the specific data format. In addition, we hypothesize and demonstrate that comparable financial reasoning capability can be induced using relatively smaller datasets.

Can humans detect AI-generated financial documents better than machines? We present GPT4o-Receipt, a benchmark of 1,235 receipt images pairing GPT-4o-generated receipts with authentic ones from established datasets, evaluated by five state-of-the-art multimodal LLMs and a 30-annotator crowdsourced perceptual study. Our findings reveal a striking paradox: humans are better at seeing AI artifacts, yet worse at detecting AI documents. Human annotators exhibit the largest visual discrimination gap of any evaluator, yet their binary detection F1 falls well below Claude Sonnet 4 and below Gemini 2.5 Flash. This paradox resolves once the mechanism is understood: the dominant forensic signals in AI-generated receipts are arithmetic errors -- invisible to visual inspection but systematically verifiable by LLMs. Humans cannot perceive that a subtotal is incorrect; LLMs verify it in milliseconds. Beyond the human--LLM comparison, our five-model evaluation reveals dramatic performance disparities and calibration differences that render simple accuracy metrics insufficient for detector selection. GPT4o-Receipt, the evaluation framework, and all results are released publicly to support future research in AI document forensics.

Despite the strong research interest in document-level Machine Translation (MT), the test sets dedicated to this task are still scarce. The existing test sets mainly cover topics from the general domain and fall short on specialised domains, such as legal and financial. Also, in spite of their document-level aspect, they still follow a sentence-level logic that does not allow for including certain linguistic phenomena such as information reorganisation. In this work, we aim to fill this gap by proposing a novel test set: DOLFIN. The dataset is built from specialised financial documents, and it makes a step towards true document-level MT by abandoning the paradigm of perfectly aligned sentences, presenting data in units of sections rather than sentences. The test set consists of an average of 1950 aligned sections for five language pairs. We present a detailed data collection pipeline that can serve as inspiration for aligning new document-level datasets. We demonstrate the usefulness and quality of this test set by evaluating a number of models. Our results show that the test set is able to discriminate between context-sensitive and context-agnostic models and shows the weaknesses when models fail to accurately translate financial texts. The test set is made public for the community.

Despite tremendous progress in automatic summarization, state-of-the-art methods are predominantly trained to excel in summarizing short newswire articles, or documents with strong layout biases such as scientific articles or government reports. Efficient techniques to summarize financial documents, including facts and figures, have largely been unexplored, majorly due to the unavailability of suitable datasets. In this work, we present ECTSum, a new dataset with transcripts of earnings calls (ECTs), hosted by publicly traded companies, as documents, and short experts-written telegram-style bullet point summaries derived from corresponding Reuters articles. ECTs are long unstructured documents without any prescribed length limit or format. We benchmark our dataset with state-of-the-art summarizers across various metrics evaluating the content quality and factual consistency of the generated summaries. Finally, we present a simple-yet-effective approach, ECT-BPS, to generate a set of bullet points that precisely capture the important facts discussed in the calls.

We present the FinCausal 2020 Shared Task on Causality Detection in Financial Documents and the associated FinCausal dataset, and discuss the participating systems and results. Two sub-tasks are proposed: a binary classification task (Task 1) and a relation extraction task (Task 2). A total of 16 teams submitted runs across the two Tasks and 13 of them contributed with a system description paper. This workshop is associated to the Joint Workshop on Financial Narrative Processing and MultiLing Financial Summarisation (FNP-FNS 2020), held at The 28th International Conference on Computational Linguistics (COLING'2020), Barcelona, Spain on September 12, 2020.

The financial domain frequently deals with large numbers of long documents that are essential for daily operations. Significant effort is put towards automating financial data analysis. However, a persistent challenge, not limited to the finance domain, is the scarcity of datasets that accurately reflect real-world tasks for model evaluation. Existing datasets are often constrained by size, context, or relevance to practical applications. Moreover, LLMs are currently trained on trillions of tokens of text, limiting access to novel data or documents that models have not encountered during training for unbiased evaluation. We propose SEC-QA, a continuous dataset generation framework with two key features: 1) the semi-automatic generation of Question-Answer (QA) pairs spanning multiple long context financial documents, which better represent real-world financial scenarios; 2) the ability to continually refresh the dataset using the most recent public document collections, not yet ingested by LLMs. Our experiments show that current retrieval augmented generation methods systematically fail to answer these challenging multi-document questions. In response, we introduce a QA system based on program-of-thought that improves the ability to perform complex information retrieval and quantitative reasoning pipelines, thereby increasing QA accuracy.

Generic pre-trained neural networks may struggle to produce good results in specialized domains like finance and insurance. This is due to a domain mismatch between training data and downstream tasks, as in-domain data are often scarce due to privacy constraints. In this work, we compare different pre-training strategies for LayoutLM. We show that using domain-relevant documents improves results on a named-entity recognition (NER) problem using a novel dataset of anonymized insurance-related financial documents called Payslips. Moreover, we show that we can achieve competitive results using a smaller and faster model.

Retrieval-Augmented Generation (RAG) has emerged as a promising framework to mitigate hallucinations in Large Language Models (LLMs), yet its overall performance is dependent on the underlying retrieval system. In the finance domain, documents such as 10-K reports pose distinct challenges due to domain-specific vocabulary and multi-hierarchical tabular data. In this work, we introduce an efficient, end-to-end RAG pipeline that enhances retrieval for financial documents through a three-phase approach: pre-retrieval, retrieval, and post-retrieval. In the pre-retrieval phase, various query and corpus preprocessing techniques are employed to enrich input data. During the retrieval phase, we fine-tuned state-of-the-art (SOTA) embedding models with domain-specific knowledge and implemented a hybrid retrieval strategy that combines dense and sparse representations. Finally, the post-retrieval phase leverages Direct Preference Optimization (DPO) training and document selection methods to further refine the results. Evaluations on seven financial question answering datasets-FinDER, FinQABench, FinanceBench, TATQA, FinQA, ConvFinQA, and MultiHiertt-demonstrate substantial improvements in retrieval performance, leading to more accurate and contextually appropriate generation. These findings highlight the critical role of tailored retrieval techniques in advancing the effectiveness of RAG systems for financial applications. A fully replicable pipeline is available on GitHub: https://github.com/seohyunwoo-0407/GAR.

We present AIForge-Doc, the first dedicated benchmark targeting exclusively diffusion-model-based inpainting in financial and form documents with pixel-level annotation. Existing document forgery datasets rely on traditional digital editing tools (e.g., Adobe Photoshop, GIMP), creating a critical gap: state-of-the-art detectors are blind to the rapidly growing threat of AI-forged document fraud. AIForge-Doc addresses this gap by systematically forging numeric fields in real-world receipt and form images using two AI inpainting APIs -- Gemini 2.5 Flash Image and Ideogram v2 Edit -- yielding 4,061 forged images from four public document datasets (CORD, WildReceipt, SROIE, XFUND) across nine languages, annotated with pixel-precise tampered-region masks in DocTamper-compatible format. We benchmark three representative detectors -- TruFor, DocTamper, and a zero-shot GPT-4o judge -- and find that all existing methods degrade substantially: TruFor achieves AUC=0.751 (zero-shot, out-of-distribution) vs. AUC=0.96 on NIST16; DocTamper achieves AUC=0.563 vs. AUC=0.98 in-distribution, with pixel-level IoU=0.020; GPT-4o achieves only 0.509 -- essentially at chance -- confirming that AI-forged values are indistinguishable to automated detectors and VLMs. These results demonstrate that AIForge-Doc represents a qualitatively new and unsolved challenge for document forensics.

Albeit Natural Language Processing has seen major breakthroughs in the last few years, transferring such advances into real-world business cases can be challenging. One of the reasons resides in the displacement between popular benchmarks and actual data. Lack of supervision, unbalanced classes, noisy data and long documents often affect real problems in vertical domains such as finance, law and health. To support industry-oriented research, we present BUSTER, a BUSiness Transaction Entity Recognition dataset. The dataset consists of 3779 manually annotated documents on financial transactions. We establish several baselines exploiting both general-purpose and domain-specific language models. The best performing model is also used to automatically annotate 6196 documents, which we release as an additional silver corpus to BUSTER.

Large language models (LLMs) have shown impressive performance on general-purpose tasks, yet adapting them to specific domains remains challenging due to the scarcity of high-quality domain data. Existing data synthesis tools often struggle to extract reliable fine-tuning data from heterogeneous documents effectively. To address this limitation, we propose Easy Dataset, a unified framework for synthesizing fine-tuning data from unstructured documents via an intuitive graphical user interface (GUI). Specifically, Easy Dataset allows users to easily configure text extraction models and chunking strategies to transform raw documents into coherent text chunks. It then leverages a persona-driven prompting approach to generate diverse question-answer pairs using public-available LLMs. Throughout the pipeline, a human-in-the-loop visual interface facilitates the review and refinement of intermediate outputs to ensure data quality. Experiments on a financial question-answering task show that fine-tuning LLMs on the synthesized dataset significantly improves domain-specific performance while preserving general knowledge. The source code and installable package are available at https://github.com/ConardLi/easy-dataset and have garnered over 9,000 GitHub stars.

The relevance of the Key Information Extraction (KIE) task is increasingly important in natural language processing problems. But there are still only a few well-defined problems that serve as benchmarks for solutions in this area. To bridge this gap, we introduce two new datasets (Kleister NDA and Kleister Charity). They involve a mix of scanned and born-digital long formal English-language documents. In these datasets, an NLP system is expected to find or infer various types of entities by employing both textual and structural layout features. The Kleister Charity dataset consists of 2,788 annual financial reports of charity organizations, with 61,643 unique pages and 21,612 entities to extract. The Kleister NDA dataset has 540 Non-disclosure Agreements, with 3,229 unique pages and 2,160 entities to extract. We provide several state-of-the-art baseline systems from the KIE domain (Flair, BERT, RoBERTa, LayoutLM, LAMBERT), which show that our datasets pose a strong challenge to existing models. The best model achieved an 81.77% and an 83.57% F1-score on respectively the Kleister NDA and the Kleister Charity datasets. We share the datasets to encourage progress on more in-depth and complex information extraction tasks.

As high-quality public web corpora become increasingly exhausted, clean long-context documents have become a scarce and expensive source of training data for large language models (LLMs). Existing long-context corpora are often proprietary and costly to acquire, synthetically generated, or concentrated in narrow domains such as programming. We introduce the Stanford EDGAR Filings Dataset (SEFD), an open reconstruction of SEC filings into layout-faithful MultiMarkdown for financial language modeling and evaluation. SEFD makes audited financial statements, risk disclosures, ownership reports, accounting notes, and market-moving event filings usable as long-context pretraining data and as a basis for financial reasoning, forecasting, compliance, and document understanding. The resulting corpus is token-efficient, model-ready, and has less than 0.1% overlap with Common Crawl-derived corpora. We release SEFD-v1, a 152B-token initial public snapshot, and provide corpus-level analyses of a larger 18.5M-filing archive estimated at 550B tokens. We further introduce two SEFD-derived benchmarks: EDGAR-Forecast, which evaluates filing-grounded numerical forecasting after model knowledge cutoffs, and EDGAR-OCR, which evaluates transcription of complex financial tables.

Large language models (LLMs) have demonstrated great potential in natural language processing tasks within the financial domain. In this work, we present a Chinese Financial Generative Pre-trained Transformer framework, named CFGPT, which includes a dataset~(CFData) for pre-training and supervised fine-tuning, a financial LLM~(CFLLM) to adeptly manage financial texts, and a deployment framework~(CFAPP) designed to navigate real-world financial applications. The CFData comprising both a pre-training dataset and a supervised fine-tuning dataset, where the pre-training dataset collates Chinese financial data and analytics, alongside a smaller subset of general-purpose text with 584M documents and 141B tokens in total, and the supervised fine-tuning dataset is tailored for six distinct financial tasks, embodying various facets of financial analysis and decision-making with 1.5M instruction pairs and 1.5B tokens in total. The CFLLM, which is based on InternLM-7B to balance the model capability and size, is trained on CFData in two stage, continued pre-training and supervised fine-tuning. The CFAPP is centered on large language models (LLMs) and augmented with additional modules to ensure multifaceted functionality in real-world application. Our codes are released at https://github.com/TongjiFinLab/CFGPT.

Research involving privacy-sensitive data has always been constrained by data scarcity, standing in sharp contrast to other areas that have benefited from data scaling. This challenge is becoming increasingly urgent as modern AI agents--such as OpenClaw and Gemini Agent--are granted persistent access to highly sensitive personal information. To tackle this longstanding bottleneck and the rising risks, we present Privasis (i.e., privacy oasis), the first million-scale fully synthetic dataset entirely built from scratch--an expansive reservoir of texts with rich and diverse private information--designed to broaden and accelerate research in areas where processing sensitive social data is inevitable. Compared to existing datasets, Privasis, comprising 1.4 million records, offers orders-of-magnitude larger scale with quality, and far greater diversity across various document types, including medical history, legal documents, financial records, calendars, and text messages with a total of 55.1 million annotated attributes such as ethnicity, date of birth, workplace, etc. We leverage Privasis to construct a parallel corpus for text sanitization with our pipeline that decomposes texts and applies targeted sanitization. Our compact sanitization models (<=4B) trained on this dataset outperform state-of-the-art large language models, such as GPT-5 and Qwen-3 235B. We plan to release data, models, and code to accelerate future research on privacy-sensitive domains and agents.

Document Visual Question Answering (VQA) aims to understand visually-rich documents to answer questions in natural language, which is an emerging research topic for both Natural Language Processing and Computer Vision. In this work, we introduce a new Document VQA dataset, named TAT-DQA, which consists of 3,067 document pages comprising semi-structured table(s) and unstructured text as well as 16,558 question-answer pairs by extending the TAT-QA dataset. These documents are sampled from real-world financial reports and contain lots of numbers, which means discrete reasoning capability is demanded to answer questions on this dataset. Based on TAT-DQA, we further develop a novel model named MHST that takes into account the information in multi-modalities, including text, layout and visual image, to intelligently address different types of questions with corresponding strategies, i.e., extraction or reasoning. Extensive experiments show that the MHST model significantly outperforms the baseline methods, demonstrating its effectiveness. However, the performance still lags far behind that of expert humans. We expect that our new TAT-DQA dataset would facilitate the research on deep understanding of visually-rich documents combining vision and language, especially for scenarios that require discrete reasoning. Also, we hope the proposed model would inspire researchers to design more advanced Document VQA models in future. Our dataset will be publicly available for non-commercial use at https://nextplusplus.github.io/TAT-DQA/.

The sheer volume of financial statements makes it difficult for humans to access and analyze a business's financials. Robust numerical reasoning likewise faces unique challenges in this domain. In this work, we focus on answering deep questions over financial data, aiming to automate the analysis of a large corpus of financial documents. In contrast to existing tasks on general domain, the finance domain includes complex numerical reasoning and understanding of heterogeneous representations. To facilitate analytical progress, we propose a new large-scale dataset, FinQA, with Question-Answering pairs over Financial reports, written by financial experts. We also annotate the gold reasoning programs to ensure full explainability. We further introduce baselines and conduct comprehensive experiments in our dataset. The results demonstrate that popular, large, pre-trained models fall far short of expert humans in acquiring finance knowledge and in complex multi-step numerical reasoning on that knowledge. Our dataset -- the first of its kind -- should therefore enable significant, new community research into complex application domains. The dataset and code are publicly availablehttps://github.com/czyssrs/FinQA.

A number of datasets for Relation Extraction (RE) have been created to aide downstream tasks such as information retrieval, semantic search, question answering and textual entailment. However, these datasets fail to capture financial-domain specific challenges since most of these datasets are compiled using general knowledge sources such as Wikipedia, web-based text and news articles, hindering real-life progress and adoption within the financial world. To address this limitation, we propose REFinD, the first large-scale annotated dataset of relations, with sim29K instances and 22 relations amongst 8 types of entity pairs, generated entirely over financial documents. We also provide an empirical evaluation with various state-of-the-art models as benchmarks for the RE task and highlight the challenges posed by our dataset. We observed that various state-of-the-art deep learning models struggle with numeric inference, relational and directional ambiguity.

Regulatory documents, issued by governmental regulatory bodies, establish rules, guidelines, and standards that organizations must adhere to for legal compliance. These documents, characterized by their length, complexity and frequent updates, are challenging to interpret, requiring significant allocation of time and expertise on the part of organizations to ensure ongoing compliance.Regulatory Natural Language Processing (RegNLP) is a multidisciplinary subfield aimed at simplifying access to and interpretation of regulatory rules and obligations. We define an Automated Question-Passage Generation task for RegNLP, create the ObliQA dataset containing 27,869 questions derived from the Abu Dhabi Global Markets (ADGM) financial regulation document collection, design a baseline Regulatory Information Retrieval and Answer Generation system, and evaluate it with RePASs, a novel evaluation metric that tests whether generated answers accurately capture all relevant obligations and avoid contradictions.

The complexity of the Generally Accepted Accounting Principles (GAAP) and the hierarchical structure of eXtensible Business Reporting Language (XBRL) filings make financial auditing increasingly difficult to automate and verify. While large language models (LLMs) have demonstrated strong capabilities in unstructured text understanding, their ability to reason over structured, interdependent, and taxonomy-driven financial documents remains largely unexplored. To fill this gap, we introduce FinAuditing, the first taxonomy-aligned, structure-aware, multi-document benchmark for evaluating LLMs on financial auditing tasks. Built from real US-GAAP-compliant XBRL filings, FinAuditing defines three complementary subtasks, FinSM for semantic consistency, FinRE for relational consistency, and FinMR for numerical consistency, each targeting a distinct aspect of structured auditing reasoning. We further propose a unified evaluation framework integrating retrieval, classification, and reasoning metrics across these subtasks. Extensive zero-shot experiments on 13 state-of-the-art LLMs reveal that current models perform inconsistently across semantic, relational, and mathematical dimensions, with accuracy drops of up to 60-90% when reasoning over hierarchical multi-document structures. Our findings expose the systematic limitations of modern LLMs in taxonomy-grounded financial reasoning and establish FinAuditing as a foundation for developing trustworthy, structure-aware, and regulation-aligned financial intelligence systems. The benchmark dataset is available at Hugging Face.

Table extraction from document images is a challenging AI problem, and labelled data for many content domains is difficult to come by. Existing table extraction datasets often focus on scientific tables due to the vast amount of academic articles that are readily available, along with their source code. However, there are significant layout and typographical differences between tables found across scientific, financial, and other domains. Current datasets often lack the words, and their positions, contained within the tables, instead relying on unreliable OCR to extract these features for training modern machine learning models on natural language processing tasks. Therefore, there is a need for a more general method of obtaining labelled data. We present SynFinTabs, a large-scale, labelled dataset of synthetic financial tables. Our hope is that our method of generating these synthetic tables is transferable to other domains. To demonstrate the effectiveness of our dataset in training models to extract information from table images, we create FinTabQA, a layout large language model trained on an extractive question-answering task. We test our model using real-world financial tables and compare it to a state-of-the-art generative model and discuss the results. We make the dataset, model, and dataset generation code publicly available.

Despite the strong language understanding abilities of large language models (LLMs), they still struggle with reliable question answering (QA) over long, structured documents, particularly for numerical reasoning. Financial annual reports exemplify this difficulty: financial statement analysis often hinges on accurate arithmetic, and analysts derive key indicators by integrating evidence scattered across multiple tables and narrative text. However, existing benchmarks focus largely on single-table settings, leaving cross-table document-level numerical reasoning underexplored. To address this gap, we introduce FinLongDocQA, a dataset for both single-table and cross-table financial numerical reasoning in long-context reports. Evaluating both closed-source and open-source LLMs on FinLongDocQA reveals two bottlenecks: (1) annual reports often exceed 129k tokens, exacerbating the context rot problem for locating relevant tables; and (2) even when relevant evidence is located, LLMs remain prone to errors in multi-step numerical reasoning. We propose FinLongDocAgent, a Multi-Agent Multi-Round Retrieval-Augmented Generation (RAG) approach that iteratively retrieves evidence, performs intermediate calculations, and verifies results across rounds. Experiments highlight the importance of iterative retrieval and verification for reliable numerical QA in long financial documents.

Document understanding in real-world applications often requires processing heterogeneous, multi-page document packets containing multiple documents stitched together. Despite recent advances in visual document understanding, the fundamental task of document packet splitting, which involves separating a document packet into individual units, remains largely unaddressed. We present the first comprehensive benchmark dataset, DocSplit, along with novel evaluation metrics for assessing the document packet splitting capabilities of large language models. DocSplit comprises five datasets of varying complexity, covering diverse document types, layouts, and multimodal settings. We formalize the DocSplit task, which requires models to identify document boundaries, classify document types, and maintain correct page ordering within a document packet. The benchmark addresses real-world challenges, including out-of-order pages, interleaved documents, and documents lacking clear demarcations. We conduct extensive experiments evaluating multimodal LLMs on our datasets, revealing significant performance gaps in current models' ability to handle complex document splitting tasks. The DocSplit benchmark datasets and proposed novel evaluation metrics provide a systematic framework for advancing document understanding capabilities essential for legal, financial, healthcare, and other document-intensive domains. We release the datasets to facilitate future research in document packet processing.

Monetary policy pronouncements by Federal Open Market Committee (FOMC) are a major driver of financial market returns. We construct the largest tokenized and annotated dataset of FOMC speeches, meeting minutes, and press conference transcripts in order to understand how monetary policy influences financial markets. In this study, we develop a novel task of hawkish-dovish classification and benchmark various pre-trained language models on the proposed dataset. Using the best-performing model (RoBERTa-large), we construct a measure of monetary policy stance for the FOMC document release days. To evaluate the constructed measure, we study its impact on the treasury market, stock market, and macroeconomic indicators. Our dataset, models, and code are publicly available on Huggingface and GitHub under CC BY-NC 4.0 license.

We introduce JFinTEB, the first comprehensive benchmark specifically designed for evaluating Japanese financial text embeddings. Existing embedding benchmarks provide limited coverage of language-specific and domain-specific aspects found in Japanese financial texts. Our benchmark encompasses diverse task categories including retrieval and classification tasks that reflect realistic and well-defined financial text processing scenarios. The retrieval tasks leverage instruction-following datasets and financial text generation queries, while classification tasks cover sentiment analysis, document categorization, and domain-specific classification challenges derived from economic survey data. We conduct extensive evaluations across a wide range of embedding models, including Japanese-specific models of various sizes, multilingual models, and commercial embedding services. We publicly release JFinTEB datasets and evaluation framework at https://github.com/retarfi/JFinTEB to facilitate future research and provide a standardized evaluation protocol for the Japanese financial text mining community. This work addresses a critical gap in Japanese financial text processing resources and establishes a foundation for advancing domain-specific embedding research.

We introduce RealKIE, a benchmark of five challenging datasets aimed at advancing key information extraction methods, with an emphasis on enterprise applications. The datasets include a diverse range of documents including SEC S1 Filings, US Non-disclosure Agreements, UK Charity Reports, FCC Invoices, and Resource Contracts. Each presents unique challenges: poor text serialization, sparse annotations in long documents, and complex tabular layouts. These datasets provide a realistic testing ground for key information extraction tasks like investment analysis and legal data processing. In addition to presenting these datasets, we offer an in-depth description of the annotation process, document processing techniques, and baseline modeling approaches. This contribution facilitates the development of NLP models capable of handling practical challenges and supports further research into information extraction technologies applicable to industry-specific problems. The annotated data and OCR outputs are available to download at https://indicodatasolutions.github.io/RealKIE/ code to reproduce the baselines will be available shortly.

Risk management in finance involves recognizing, evaluating, and addressing financial risks to maintain stability and ensure regulatory compliance. Extracting relevant insights from extensive regulatory documents is a complex challenge requiring advanced retrieval and language models. This paper introduces RiskData, a dataset specifically curated for finetuning embedding models in risk management, and RiskEmbed, a finetuned embedding model designed to improve retrieval accuracy in financial question-answering systems. The dataset is derived from 94 regulatory guidelines published by the Office of the Superintendent of Financial Institutions (OSFI) from 1991 to 2024. We finetune a state-of-the-art sentence BERT embedding model to enhance domain-specific retrieval performance typically for Retrieval-Augmented Generation (RAG) systems. Experimental results demonstrate that RiskEmbed significantly outperforms general-purpose and financial embedding models, achieving substantial improvements in ranking metrics. By open-sourcing both the dataset and the model, we provide a valuable resource for financial institutions and researchers aiming to develop more accurate and efficient risk management AI solutions.

Identity documents recognition is an important sub-field of document analysis, which deals with tasks of robust document detection, type identification, text fields recognition, as well as identity fraud prevention and document authenticity validation given photos, scans, or video frames of an identity document capture. Significant amount of research has been published on this topic in recent years, however a chief difficulty for such research is scarcity of datasets, due to the subject matter being protected by security requirements. A few datasets of identity documents which are available lack diversity of document types, capturing conditions, or variability of document field values. In addition, the published datasets were typically designed only for a subset of document recognition problems, not for a complex identity document analysis. In this paper, we present a dataset MIDV-2020 which consists of 1000 video clips, 2000 scanned images, and 1000 photos of 1000 unique mock identity documents, each with unique text field values and unique artificially generated faces, with rich annotation. For the presented benchmark dataset baselines are provided for such tasks as document location and identification, text fields recognition, and face detection. With 72409 annotated images in total, to the date of publication the proposed dataset is the largest publicly available identity documents dataset with variable artificially generated data, and we believe that it will prove invaluable for advancement of the field of document analysis and recognition. The dataset is available for download at ftp://smartengines.com/midv-2020 and http://l3i-share.univ-lr.fr .

Finance reporting is a natural proving ground for large language models, and the very-long-context capabilities of recent models across all sizes make rigorous evaluation in this domain an increasingly pressing need. Yet most public financial resources reduce the task to plain-text SEC 10-K filings paired with a handful of question-answer items. We release LEDGER (Long-context Evaluation of Documents for Grounded Extraction and Retrieval), a corpus of 4,999 digitized corporate annual reports - full documents with figures, tables, and narrative, not just regulatory filings. Each report is labeled with 31 consolidated financial KPIs to be extracted and linked to the market's reaction at the earnings date. From this data we derive three evaluation benchmarks spanning the difficulty spectrum: a pure page-level KPI retrieval task with TREC-style relevance judgments over 118,048 questions in natural language, a conversational "needle-in-a-haystack" single-value lookup, and a full KPI extraction task, both from long, numerically dense reports. We additionally provide human OCR-quality annotations with inter-annotator agreement and the complete extraction, validation, and scoring toolchain. We further demonstrate the dataset's research utility with a case study linking CEO-letter rhetoric to post-publication market impact.

In recent years, large language models (LLMs) have demonstrated significant potential in constructing passage retrieval datasets. However, existing methods still face limitations in expressing cross-doc query needs and controlling annotation quality. To address these issues, this paper proposes a bidirectional generation pipeline, which aims to generate 3-level hierarchical queries for both intra-doc and cross-doc scenarios and mine additional relevance labels on top of direct mapping annotation. The pipeline introduces two query generation methods: bottom-up from single-doc text and top-down from multi-doc titles. The bottom-up method uses LLMs to disassemble and generate structured queries at both sentence-level and passage-level simultaneously from intra-doc passages. The top-down approach incorporates three key financial elements--industry, topic, and time--to divide report titles into clusters and prompts LLMs to generate topic-level queries from each cluster. For relevance annotation, our pipeline not only relies on direct mapping annotation from the generation relationship but also implements an indirect positives mining method to enrich the relevant query-passage pairs. Using this pipeline, we constructed a Financial Passage Retrieval Generated dataset (FinCPRG) from almost 1.3k Chinese financial research reports, which includes hierarchical queries and rich relevance labels. Through evaluations of mined relevance labels, benchmarking and training experiments, we assessed the quality of FinCPRG and validated its effectiveness as a passage retrieval dataset for both training and benchmarking.

Financial asset recommendation (FAR) is a sub-domain of recommender systems which identifies useful financial securities for investors, with the expectation that they will invest capital on the recommended assets. FAR solutions analyse and learn from multiple data sources, including time series pricing data, customer profile information and expectations, as well as past investments. However, most models have been developed over proprietary datasets, making a comparison over a common benchmark impossible. In this paper, we aim to solve this problem by introducing FAR-Trans, the first public dataset for FAR, containing pricing information and retail investor transactions acquired from a large European financial institution. We also provide a bench-marking comparison between eleven FAR algorithms over the data for use as future baselines. The dataset can be downloaded from https://doi.org/10.5525/gla.researchdata.1658 .

The field of visually rich document understanding (VRDU) aims to solve a multitude of well-researched NLP tasks in a multi-modal domain. Several datasets exist for research on specific tasks of VRDU such as document classification (DC), key entity extraction (KEE), entity linking, visual question answering (VQA), inter alia. These datasets cover documents like invoices and receipts with sparse annotations such that they support one or two co-related tasks (e.g., entity extraction and entity linking). Unfortunately, only focusing on a single specific of documents or task is not representative of how documents often need to be processed in the wild - where variety in style and requirements is expected. In this paper, we introduce BuDDIE (Business Document Dataset for Information Extraction), the first multi-task dataset of 1,665 real-world business documents that contains rich and dense annotations for DC, KEE, and VQA. Our dataset consists of publicly available business entity documents from US state government websites. The documents are structured and vary in their style and layout across states and types (e.g., forms, certificates, reports, etc.). We provide data variety and quality metrics for BuDDIE as well as a series of baselines for each task. Our baselines cover traditional textual, multi-modal, and large language model approaches to VRDU.

We present a collection of open, machine-readable document datasets covering parliamentary proceedings, legal judgments, government publications, news, and tourism statistics from Sri Lanka. As of v20251005, the collection currently comprises 215,670 documents (60.3 GB) across 13 datasets in Sinhala, Tamil, and English. The datasets are updated daily and mirrored on GitHub and Hugging Face. These resources aim to support research in computational linguistics, legal analytics, socio-political studies, and multilingual natural language processing. We describe the data sources, collection pipeline, formats, and potential use cases, while discussing licensing and ethical considerations.

Large Language Models (LLMs) have stunningly advanced the field of machine translation, though their effectiveness within the financial domain remains largely underexplored. To probe this issue, we constructed a fine-grained Chinese-English parallel corpus of financial news called FFN. We acquired financial news articles spanning between January 1st, 2014, to December 31, 2023, from mainstream media websites such as CNN, FOX, and China Daily. The dataset consists of 1,013 main text and 809 titles, all of which have been manually corrected. We measured the translation quality of two LLMs -- ChatGPT and ERNIE-bot, utilizing BLEU, TER and chrF scores as the evaluation metrics. For comparison, we also trained an OpenNMT model based on our dataset. We detail problems of LLMs and provide in-depth analysis, intending to stimulate further research and solutions in this largely uncharted territory. Our research underlines the need to optimize LLMs within the specific field of financial translation to ensure accuracy and quality.

Modern machine learning relies on datasets to develop and validate research ideas. Given the growth of publicly available data, finding the right dataset to use is increasingly difficult. Any research question imposes explicit and implicit constraints on how well a given dataset will enable researchers to answer this question, such as dataset size, modality, and domain. We operationalize the task of recommending datasets given a short natural language description of a research idea, to help people find relevant datasets for their needs. Dataset recommendation poses unique challenges as an information retrieval problem; datasets are hard to directly index for search and there are no corpora readily available for this task. To facilitate this task, we build the DataFinder Dataset which consists of a larger automatically-constructed training set (17.5K queries) and a smaller expert-annotated evaluation set (392 queries). Using this data, we compare various information retrieval algorithms on our test set and present a superior bi-encoder retriever for text-based dataset recommendation. This system, trained on the DataFinder Dataset, finds more relevant search results than existing third-party dataset search engines. To encourage progress on dataset recommendation, we release our dataset and models to the public.

Entity-level fine-grained sentiment analysis in the financial domain is a crucial subtask of sentiment analysis and currently faces numerous challenges. The primary challenge stems from the lack of high-quality and large-scale annotated corpora specifically designed for financial text sentiment analysis, which in turn limits the availability of data necessary for developing effective text processing techniques. Recent advancements in large language models (LLMs) have yielded remarkable performance in natural language processing tasks, primarily centered around language pattern matching. In this paper, we propose a novel and extensive Chinese fine-grained financial sentiment analysis dataset, FinChina SA, for enterprise early warning. We thoroughly evaluate and experiment with well-known existing open-source LLMs using our dataset. We firmly believe that our dataset will serve as a valuable resource to advance the exploration of real-world financial sentiment analysis tasks, which should be the focus of future research. The FinChina SA dataset is publicly available at https://github.com/YerayL/FinChina-SA

Large language models (LLMs) have become powerful tools for advancing natural language processing applications in the financial industry. However, existing financial LLMs often face challenges such as hallucinations or superficial parameter training, resulting in suboptimal performance, particularly in financial computing and machine reading comprehension (MRC). To address these issues, we propose a novel large language model specifically designed for the Chinese financial domain, named SNFinLLM. SNFinLLM excels in domain-specific tasks such as answering questions, summarizing financial research reports, analyzing sentiment, and executing financial calculations. We then perform the supervised fine-tuning (SFT) to enhance the model's proficiency across various financial domains. Specifically, we gather extensive financial data and create a high-quality instruction dataset composed of news articles, professional papers, and research reports of finance domain. Utilizing both domain-specific and general datasets, we proceed with continuous pre-training on an established open-source base model, resulting in SNFinLLM-base. Following this, we engage in supervised fine-tuning (SFT) to bolster the model's capability across multiple financial tasks. Crucially, we employ a straightforward Direct Preference Optimization (DPO) method to better align the model with human preferences. Extensive experiments conducted on finance benchmarks and our evaluation dataset demonstrate that SNFinLLM markedly outperforms other state-of-the-art financial language models. For more details, check out our demo video here: https://www.youtube.com/watch?v=GYT-65HZwus.

Pure time series forecasting tasks typically focus exclusively on numerical features; however, real-world financial decision-making demands the comparison and analysis of heterogeneous sources of information. Recent advances in deep learning and large scale language models (LLMs) have made significant strides in capturing sentiment and other qualitative signals, thereby enhancing the accuracy of financial time series predictions. Despite these advances, most existing datasets consist solely of price series and news text, are confined to a single market, and remain limited in scale. In this paper, we introduce FinMultiTime, the first large scale, multimodal financial time series dataset. FinMultiTime temporally aligns four distinct modalities financial news, structured financial tables, K-line technical charts, and stock price time series across both the S&P 500 and HS 300 universes. Covering 5,105 stocks from 2009 to 2025 in the United States and China, the dataset totals 112.6 GB and provides minute-level, daily, and quarterly resolutions, thus capturing short, medium, and long term market signals with high fidelity. Our experiments demonstrate that (1) scale and data quality markedly boost prediction accuracy; (2) multimodal fusion yields moderate gains in Transformer models; and (3) a fully reproducible pipeline enables seamless dataset updates.

Financial market predictions utilize historical data to anticipate future stock prices and market trends. Traditionally, these predictions have focused on the statistical analysis of quantitative factors, such as stock prices, trading volumes, inflation rates, and changes in industrial production. Recent advancements in large language models motivate the integrated financial analysis of both sentiment data, particularly market news, and numerical factors. Nonetheless, this methodology frequently encounters constraints due to the paucity of extensive datasets that amalgamate both quantitative and qualitative sentiment analyses. To address this challenge, we introduce a large-scale financial dataset, namely, Financial News and Stock Price Integration Dataset (FNSPID). It comprises 29.7 million stock prices and 15.7 million time-aligned financial news records for 4,775 S&P500 companies, covering the period from 1999 to 2023, sourced from 4 stock market news websites. We demonstrate that FNSPID excels existing stock market datasets in scale and diversity while uniquely incorporating sentiment information. Through financial analysis experiments on FNSPID, we propose: (1) the dataset's size and quality significantly boost market prediction accuracy; (2) adding sentiment scores modestly enhances performance on the transformer-based model; (3) a reproducible procedure that can update the dataset. Completed work, code, documentation, and examples are available at github.com/Zdong104/FNSPID. FNSPID offers unprecedented opportunities for the financial research community to advance predictive modeling and analysis.

Document analysis and understanding models often require extensive annotated data to be trained. However, various document-related tasks extend beyond mere text transcription, requiring both textual content and precise bounding-box annotations to identify different document elements. Collecting such data becomes particularly challenging, especially in the context of invoices, where privacy concerns add an additional layer of complexity. In this paper, we introduce FATURA, a pivotal resource for researchers in the field of document analysis and understanding. FATURA is a highly diverse dataset featuring multi-layout, annotated invoice document images. Comprising 10,000 invoices with 50 distinct layouts, it represents the largest openly accessible image dataset of invoice documents known to date. We also provide comprehensive benchmarks for various document analysis and understanding tasks and conduct experiments under diverse training and evaluation scenarios. The dataset is freely accessible at https://zenodo.org/record/8261508, empowering researchers to advance the field of document analysis and understanding.

In recent years, the challenge of extracting information from business documents has emerged as a critical task, finding applications across numerous domains. This effort has attracted substantial interest from both industry and academy, highlighting its significance in the current technological landscape. Most datasets in this area are primarily focused on Key Information Extraction (KIE), where the extraction process revolves around extracting information using a specific, predefined set of keys. Unlike most existing datasets and benchmarks, our focus is on discovering key-value pairs (KVPs) without relying on predefined keys, navigating through an array of diverse templates and complex layouts. This task presents unique challenges, primarily due to the absence of comprehensive datasets and benchmarks tailored for non-predetermined KVP extraction. To address this gap, we introduce KVP10k , a new dataset and benchmark specifically designed for KVP extraction. The dataset contains 10707 richly annotated images. In our benchmark, we also introduce a new challenging task that combines elements of KIE as well as KVP in a single task. KVP10k sets itself apart with its extensive diversity in data and richly detailed annotations, paving the way for advancements in the field of information extraction from complex business documents.

This paper introduces CommonForms, a web-scale dataset for form field detection. It casts the problem of form field detection as object detection: given an image of a page, predict the location and type (Text Input, Choice Button, Signature) of form fields. The dataset is constructed by filtering Common Crawl to find PDFs that have fillable elements. Starting with 8 million documents, the filtering process is used to arrive at a final dataset of roughly 55k documents that have over 450k pages. Analysis shows that the dataset contains a diverse mixture of languages and domains; one third of the pages are non-English, and among the 14 classified domains, no domain makes up more than 25% of the dataset. In addition, this paper presents a family of form field detectors, FFDNet-Small and FFDNet-Large, which attain a very high average precision on the CommonForms test set. Each model cost less than $500 to train. Ablation results show that high-resolution inputs are crucial for high-quality form field detection, and that the cleaning process improves data efficiency over using all PDFs that have fillable fields in Common Crawl. A qualitative analysis shows that they outperform a popular, commercially available PDF reader that can prepare forms. Unlike the most popular commercially available solutions, FFDNet can predict checkboxes in addition to text and signature fields. This is, to our knowledge, the first large scale dataset released for form field detection, as well as the first open source models. The dataset, models, and code will be released at https://github.com/jbarrow/commonforms

Automatic document summarization aims to produce a concise summary covering the input document's salient information. Within a report document, the salient information can be scattered in the textual and non-textual content. However, existing document summarization datasets and methods usually focus on the text and filter out the non-textual content. Missing tabular data can limit produced summaries' informativeness, especially when summaries require covering quantitative descriptions of critical metrics in tables. Existing datasets and methods cannot meet the requirements of summarizing long text and multiple tables in each report. To deal with the scarcity of available data, we propose FINDSum, the first large-scale dataset for long text and multi-table summarization. Built on 21,125 annual reports from 3,794 companies, it has two subsets for summarizing each company's results of operations and liquidity. To summarize the long text and dozens of tables in each report, we present three types of summarization methods. Besides, we propose a set of evaluation metrics to assess the usage of numerical information in produced summaries. Dataset analyses and experimental results indicate the importance of jointly considering input textual and tabular data when summarizing report documents.

Accurate evaluation of financial question answering (QA) systems necessitates a comprehensive dataset encompassing diverse question types and contexts. However, current financial QA datasets lack scope diversity and question complexity. This work introduces FinTextQA, a novel dataset for long-form question answering (LFQA) in finance. FinTextQA comprises 1,262 high-quality, source-attributed QA pairs extracted and selected from finance textbooks and government agency websites.Moreover, we developed a Retrieval-Augmented Generation (RAG)-based LFQA system, comprising an embedder, retriever, reranker, and generator. A multi-faceted evaluation approach, including human ranking, automatic metrics, and GPT-4 scoring, was employed to benchmark the performance of different LFQA system configurations under heightened noisy conditions. The results indicate that: (1) Among all compared generators, Baichuan2-7B competes closely with GPT-3.5-turbo in accuracy score; (2) The most effective system configuration on our dataset involved setting the embedder, retriever, reranker, and generator as Ada2, Automated Merged Retrieval, Bge-Reranker-Base, and Baichuan2-7B, respectively; (3) models are less susceptible to noise after the length of contexts reaching a specific threshold.

Manual digitization of bibliographic metadata is time consuming and labor intensive, especially for historical and real-world archives with highly variable formatting across documents. Despite advances in machine learning, the absence of dedicated datasets for metadata extraction hinders automation. To address this gap, we introduce BiblioPage, a dataset of scanned title pages annotated with structured bibliographic metadata. The dataset consists of approximately 2,000 monograph title pages collected from 14 Czech libraries, spanning a wide range of publication periods, typographic styles, and layout structures. Each title page is annotated with 16 bibliographic attributes, including title, contributors, and publication metadata, along with precise positional information in the form of bounding boxes. To extract structured information from this dataset, we valuated object detection models such as YOLO and DETR combined with transformer-based OCR, achieving a maximum mAP of 52 and an F1 score of 59. Additionally, we assess the performance of various visual large language models, including LlamA 3.2-Vision and GPT-4o, with the best model reaching an F1 score of 67. BiblioPage serves as a real-world benchmark for bibliographic metadata extraction, contributing to document understanding, document question answering, and document information extraction. Dataset and evaluation scripts are availible at: https://github.com/DCGM/biblio-dataset

We propose Multiple Experts Fine-tuning Framework to build a financial large language model (LLM), DISC-FinLLM. Our methodology improves general LLMs by endowing them with multi-turn question answering abilities, domain text processing capabilities, mathematical computation skills, and retrieval-enhanced generation capabilities. We build a financial instruction-tuning dataset named DISC-FIN-SFT, including instruction samples of four categories (consulting, NLP tasks, computing and retrieval-augmented generation). Evaluations conducted on multiple benchmarks demonstrate that our model performs better than baseline models in various financial scenarios. Further resources can be found at https://github.com/FudanDISC/DISC-FinLLM.

A lot of research has been devoted to identity documents analysis and recognition on mobile devices. However, no publicly available datasets designed for this particular problem currently exist. There are a few datasets which are useful for associated subtasks but in order to facilitate a more comprehensive scientific and technical approach to identity document recognition more specialized datasets are required. In this paper we present a Mobile Identity Document Video dataset (MIDV-500) consisting of 500 video clips for 50 different identity document types with ground truth which allows to perform research in a wide scope of document analysis problems. The paper presents characteristics of the dataset and evaluation results for existing methods of face detection, text line recognition, and document fields data extraction. Since an important feature of identity documents is their sensitiveness as they contain personal data, all source document images used in MIDV-500 are either in public domain or distributed under public copyright licenses. The main goal of this paper is to present a dataset. However, in addition and as a baseline, we present evaluation results for existing methods for face detection, text line recognition, and document data extraction, using the presented dataset. (The dataset is available for download at ftp://smartengines.com/midv-500/.)

Table Detection has become a fundamental task for visually rich document understanding with the surging number of electronic documents. However, popular public datasets widely used in related studies have inherent limitations, including noisy and inconsistent samples, limited training samples, and limited data sources. These limitations make these datasets unreliable to evaluate the model performance and cannot reflect the actual capacity of models. Therefore, this study revisits some open datasets with high-quality annotations, identifies and cleans the noise, and aligns the annotation definitions of these datasets to merge a larger dataset, termed Open-Tables. Moreover, to enrich the data sources, we propose a new ICT-TD dataset using the PDF files of Information and Communication Technologies (ICT) commodities, a different domain containing unique samples that hardly appear in open datasets. To ensure the label quality of the dataset, we annotated the dataset manually following the guidance of a domain expert. The proposed dataset is challenging and can be a sample of actual cases in the business context. We built strong baselines using various state-of-the-art object detection models. Our experimental results show that the domain differences among existing open datasets are minor despite having different data sources. Our proposed Open-Tables and ICT-TD can provide a more reliable evaluation for models because of their high quality and consistent annotations. Besides, they are more suitable for cross-domain settings. Our experimental results show that in the cross-domain setting, benchmark models trained with cleaned Open-Tables dataset can achieve 0.6\%-2.6\% higher weighted average F1 than the corresponding ones trained with the noisy version of Open-Tables, demonstrating the reliability of the proposed datasets. The datasets are public available.

Recent literature has underscored the importance of dataset documentation work for machine learning, and part of this work involves addressing "documentation debt" for datasets that have been used widely but documented sparsely. This paper aims to help address documentation debt for BookCorpus, a popular text dataset for training large language models. Notably, researchers have used BookCorpus to train OpenAI's GPT-N models and Google's BERT models, even though little to no documentation exists about the dataset's motivation, composition, collection process, etc. We offer a preliminary datasheet that provides key context and information about BookCorpus, highlighting several notable deficiencies. In particular, we find evidence that (1) BookCorpus likely violates copyright restrictions for many books, (2) BookCorpus contains thousands of duplicated books, and (3) BookCorpus exhibits significant skews in genre representation. We also find hints of other potential deficiencies that call for future research, including problematic content, potential skews in religious representation, and lopsided author contributions. While more work remains, this initial effort to provide a datasheet for BookCorpus adds to growing literature that urges more careful and systematic documentation for machine learning datasets.

Real-world financial documents report essential information about an entity's financial holdings that can span millions of different financial instrument types. Yet, these details are often buried in messy, multi-page, fragmented tables - for example, 99.4% of the tables in our dataset have no bounding boxes with the maximum number of rows amounting to 426 per table across 44 pages. To tackle these unique challenges from real-world tables, we present a continuously learning, agentic table extraction system, TASER (Table Agents for Schema-guided Extraction and Recommendation) that extracts highly unstructured, multi-page, heterogeneous tables into normalized, schema-conforming outputs. Our table agents execute on table detection, classification, extraction, and recommendations by leveraging an initial schema. Then, our Recommender Agent reviews the outputs, recommends schema revisions, and decides on the final recommendations, enabling TASER to outperform existing table detection models such as Table Transformer by 10.1%. Within this continuous learning process, we highlight that larger batch sizes result in a 104.3% increase in schema recommendations that are actionable and utilized, resulting in a 9.8% increase in extracted holdings - highlighting the importance of a continuous learning process. To train TASER, we have manually labeled 22,584 pages (28,150,449 tokens), 3,213 tables for $731,685,511,687 of holdings culminating in one of the first real financial table datasets. We release our dataset TASERTab to enable the research community to access real-world financial tables and outputs. Our results highlight the promise of agentic, schema-guided extraction systems for robust understanding of real-world financial tables.

Embedding models play a crucial role in representing and retrieving information across various NLP applications. Recent advances in large language models (LLMs) have further enhanced the performance of embedding models. While these models are often benchmarked on general-purpose datasets, real-world applications demand domain-specific evaluation. In this work, we introduce the Finance Massive Text Embedding Benchmark (FinMTEB), a specialized counterpart to MTEB designed for the financial domain. FinMTEB comprises 64 financial domain-specific embedding datasets across 7 tasks that cover diverse textual types in both Chinese and English, such as financial news articles, corporate annual reports, ESG reports, regulatory filings, and earnings call transcripts. We also develop a finance-adapted model, FinPersona-E5, using a persona-based data synthetic method to cover diverse financial embedding tasks for training. Through extensive evaluation of 15 embedding models, including FinPersona-E5, we show three key findings: (1) performance on general-purpose benchmarks shows limited correlation with financial domain tasks; (2) domain-adapted models consistently outperform their general-purpose counterparts; and (3) surprisingly, a simple Bag-of-Words (BoW) approach outperforms sophisticated dense embeddings in financial Semantic Textual Similarity (STS) tasks, underscoring current limitations in dense embedding techniques. Our work establishes a robust evaluation framework for financial NLP applications and provides crucial insights for developing domain-specific embedding models.

We present a new dataset for form understanding in noisy scanned documents (FUNSD) that aims at extracting and structuring the textual content of forms. The dataset comprises 199 real, fully annotated, scanned forms. The documents are noisy and vary widely in appearance, making form understanding (FoUn) a challenging task. The proposed dataset can be used for various tasks, including text detection, optical character recognition, spatial layout analysis, and entity labeling/linking. To the best of our knowledge, this is the first publicly available dataset with comprehensive annotations to address FoUn task. We also present a set of baselines and introduce metrics to evaluate performance on the FUNSD dataset, which can be downloaded at https://guillaumejaume.github.io/FUNSD/.

We introduce and make publicly available the NIFTY Financial News Headlines dataset, designed to facilitate and advance research in financial market forecasting using large language models (LLMs). This dataset comprises two distinct versions tailored for different modeling approaches: (i) NIFTY-LM, which targets supervised fine-tuning (SFT) of LLMs with an auto-regressive, causal language-modeling objective, and (ii) NIFTY-RL, formatted specifically for alignment methods (like reinforcement learning from human feedback (RLHF)) to align LLMs via rejection sampling and reward modeling. Each dataset version provides curated, high-quality data incorporating comprehensive metadata, market indices, and deduplicated financial news headlines systematically filtered and ranked to suit modern LLM frameworks. We also include experiments demonstrating some applications of the dataset in tasks like stock price movement and the role of LLM embeddings in information acquisition/richness. The NIFTY dataset along with utilities (like truncating prompt's context length systematically) are available on Hugging Face at https://huggingface.co/datasets/raeidsaqur/NIFTY.

Large multimodal models trained on natural documents, which interleave images and text, outperform models trained on image-text pairs on various multimodal benchmarks. However, the datasets used to train these models have not been released, and the collection process has not been fully specified. We introduce the OBELICS dataset, an open web-scale filtered dataset of interleaved image-text documents comprising 141 million web pages extracted from Common Crawl, 353 million associated images, and 115 billion text tokens. We describe the dataset creation process, present comprehensive filtering rules, and provide an analysis of the dataset's content. To show the viability of OBELICS, we train vision and language models of 9 and 80 billion parameters named IDEFICS, and obtain competitive performance on different multimodal benchmarks. We release our dataset, models and code.

Many natural language processing (NLP) tasks in English or general domains are widely available and are often used to evaluate pre-trained language models. In contrast, there are fewer tasks available for languages other than English and for the financial domain. In particular, tasks in Japanese and the financial domain are limited. We construct two large datasets using materials published by a Japanese central government agency. The datasets provide three Japanese financial NLP tasks, which include a 3-class and 12-class classification for categorizing sentences, as well as a 5-class classification task for sentiment analysis. Our datasets are designed to be comprehensive and up-to-date, leveraging an automatic update framework that ensures the latest task datasets are publicly available anytime.

Several large-scale datasets (e.g., WikiSQL, Spider) for developing natural language interfaces to databases have recently been proposed. These datasets cover a wide breadth of domains but fall short on some essential domains, such as finance and accounting. Given that accounting databases are used worldwide, particularly by non-technical people, there is an imminent need to develop models that could help extract information from accounting databases via natural language queries. In this resource paper, we aim to fill this gap by proposing a new large-scale Text-to-SQL dataset for the accounting and financial domain: BookSQL. The dataset consists of 100k natural language queries-SQL pairs, and accounting databases of 1 million records. We experiment with and analyze existing state-of-the-art models (including GPT-4) for the Text-to-SQL task on BookSQL. We find significant performance gaps, thus pointing towards developing more focused models for this domain.

Financial news plays a crucial role in decision-making processes across the financial sector, yet the efficient processing of this information into a structured format remains challenging. This paper presents a novel approach to financial news processing that leverages Large Language Models (LLMs) to overcome limitations that previously prevented the extraction of structured data from unstructured financial news. We introduce a system that extracts relevant company tickers from raw news article content, performs sentiment analysis at the company level, and generates summaries, all without relying on pre-structured data feeds. Our methodology combines the generative capabilities of LLMs, and recent prompting techniques, with a robust validation framework that uses a tailored string similarity approach. Evaluation on a dataset of 5530 financial news articles demonstrates the effectiveness of our approach, with 90% of articles not missing any tickers compared with current data providers, and 22% of articles having additional relevant tickers. In addition to this paper, the methodology has been implemented at scale with the resulting processed data made available through a live API endpoint, which is updated in real-time with the latest news. To the best of our knowledge, we are the first data provider to offer granular, per-company sentiment analysis from news articles, enhancing the depth of information available to market participants. We also release the evaluation dataset of 5530 processed articles as a static file, which we hope will facilitate further research leveraging financial news.

Large language models (LLMs) excel at generating human-like responses but often struggle with interactive tasks that require access to real-time information. This limitation poses challenges in finance, where models must access up-to-date information, such as recent news or price movements, to support decision-making. To address this, we introduce Financial Agent, a knowledge-grounding approach for LLMs to handle financial queries using real-time text and tabular data. Our contributions are threefold: First, we develop a Financial Context Dataset of over 50,000 financial queries paired with the required context. Second, we train FinBloom 7B, a custom 7 billion parameter LLM, on 14 million financial news articles from Reuters and Deutsche Presse-Agentur, alongside 12 million Securities and Exchange Commission (SEC) filings. Third, we fine-tune FinBloom 7B using the Financial Context Dataset to serve as a Financial Agent. This agent generates relevant financial context, enabling efficient real-time data retrieval to answer user queries. By reducing latency and eliminating the need for users to manually provide accurate data, our approach significantly enhances the capability of LLMs to handle dynamic financial tasks. Our proposed approach makes real-time financial decisions, algorithmic trading and other related tasks streamlined, and is valuable in contexts with high-velocity data flows.

Large Language Models (LLMs) have shown remarkable capabilities across a wide variety of Natural Language Processing (NLP) tasks and have attracted attention from multiple domains, including financial services. Despite the extensive research into general-domain LLMs, and their immense potential in finance, Financial LLM (FinLLM) research remains limited. This survey provides a comprehensive overview of FinLLMs, including their history, techniques, performance, and opportunities and challenges. Firstly, we present a chronological overview of general-domain Pre-trained Language Models (PLMs) through to current FinLLMs, including the GPT-series, selected open-source LLMs, and financial LMs. Secondly, we compare five techniques used across financial PLMs and FinLLMs, including training methods, training data, and fine-tuning methods. Thirdly, we summarize the performance evaluations of six benchmark tasks and datasets. In addition, we provide eight advanced financial NLP tasks and datasets for developing more sophisticated FinLLMs. Finally, we discuss the opportunities and the challenges facing FinLLMs, such as hallucination, privacy, and efficiency. To support AI research in finance, we compile a collection of accessible datasets and evaluation benchmarks on GitHub.

The use of NLP in the realm of financial technology is broad and complex, with applications ranging from sentiment analysis and named entity recognition to question answering. Large Language Models (LLMs) have been shown to be effective on a variety of tasks; however, no LLM specialized for the financial domain has been reported in literature. In this work, we present BloombergGPT, a 50 billion parameter language model that is trained on a wide range of financial data. We construct a 363 billion token dataset based on Bloomberg's extensive data sources, perhaps the largest domain-specific dataset yet, augmented with 345 billion tokens from general purpose datasets. We validate BloombergGPT on standard LLM benchmarks, open financial benchmarks, and a suite of internal benchmarks that most accurately reflect our intended usage. Our mixed dataset training leads to a model that outperforms existing models on financial tasks by significant margins without sacrificing performance on general LLM benchmarks. Additionally, we explain our modeling choices, training process, and evaluation methodology. As a next step, we plan to release training logs (Chronicles) detailing our experience in training BloombergGPT.

Key information extraction involves recognizing and extracting text from scanned receipts, enabling retrieval of essential content, and organizing it into structured documents. This paper presents a novel multilingual dataset for receipt extraction, addressing key challenges in information extraction and item classification. The dataset comprises 47,720 samples, including annotations for item names, attributes like (price, brand, etc.), and classification into 44 product categories. We introduce the InstructLLaMA approach, achieving an F1 score of 0.76 and an accuracy of 0.68 for key information extraction and item classification. We provide code, datasets, and checkpoints.\url{https://github.com/Update-For-Integrated-Business-AI/AMuRD}.

We present TableBank, a new image-based table detection and recognition dataset built with novel weak supervision from Word and Latex documents on the internet. Existing research for image-based table detection and recognition usually fine-tunes pre-trained models on out-of-domain data with a few thousand human-labeled examples, which is difficult to generalize on real-world applications. With TableBank that contains 417K high quality labeled tables, we build several strong baselines using state-of-the-art models with deep neural networks. We make TableBank publicly available and hope it will empower more deep learning approaches in the table detection and recognition task. The dataset and models are available at https://github.com/doc-analysis/TableBank.

Text-to-SQL, the task of translating natural language questions into SQL queries, has long been a central challenge in NLP. While progress has been significant, applying it to the financial domain remains especially difficult due to complex schema, domain-specific terminology, and high stakes of error. Despite this, there is no dedicated large-scale financial dataset to advance research, creating a critical gap. To address this, we introduce a curated financial dataset (FINCH) comprising 292 tables and 75,725 natural language-SQL pairs, enabling both fine-tuning and rigorous evaluation. Building on this resource, we benchmark reasoning models and language models of varying scales, providing a systematic analysis of their strengths and limitations in financial Text-to-SQL tasks. Finally, we propose a finance-oriented evaluation metric (FINCH Score) that captures nuances overlooked by existing measures, offering a more faithful assessment of model performance.

While LLMs have shown great success in financial tasks like stock prediction and question answering, their application in fully automating Equity Research Report generation remains uncharted territory. In this paper, we formulate the Equity Research Report (ERR) Generation task for the first time. To address the data scarcity and the evaluation metrics absence, we present an open-source evaluation benchmark for ERR generation - FinRpt. We frame a Dataset Construction Pipeline that integrates 7 financial data types and produces a high-quality ERR dataset automatically, which could be used for model training and evaluation. We also introduce a comprehensive evaluation system including 11 metrics to assess the generated ERRs. Moreover, we propose a multi-agent framework specifically tailored to address this task, named FinRpt-Gen, and train several LLM-based agents on the proposed datasets using Supervised Fine-Tuning and Reinforcement Learning. Experimental results indicate the data quality and metrics effectiveness of the benchmark FinRpt and the strong performance of FinRpt-Gen, showcasing their potential to drive innovation in the ERR generation field. All code and datasets are publicly available.

A common task in legal Information Retrieval (IR) is to find relevant legal sources from case-law collections. While legal practice often requires pinpoint citations (pincites) to specific case paragraphs, most existing public legal IR datasets lack paragraph-level citation annotations. Yet, publicly available datasets with such information contain data leakage in the query text and exclude paragraphs that are neither citing nor cited from the corpora, creating an unrealistic and oversimplified retrieval setting, potentially leading to inflated performance. To address these limitations, we contribute a large-scale legal IR dataset constructed from Court of Justice of the European Union (CJEU) judgments. The dataset contains: (i) masked case/paragraph queries, with removed citation information; (ii) a corpus that includes all paragraphs; and (iii) case- and paragraph-level ground-truth citations, with partial human expert validation. Our dataset supports both the development and rigorous evaluation of legal IR methods, at multiple query-document levels (case-to-case, paragraph-to-case, and paragraph-to-paragraph retrieval). Link to dataset: https://huggingface.co/datasets/theresiavr/legalpincite

Foundation models, particularly those that incorporate Transformer architectures, have demonstrated exceptional performance in domains such as natural language processing and image processing. Adapting these models to structured data, like tables, however, introduces significant challenges. These difficulties are even more pronounced when addressing multi-table data linked via foreign key, which is prevalent in the enterprise realm and crucial for empowering business use cases. Despite its substantial impact, research focusing on such linked business tables within enterprise settings remains a significantly important yet underexplored domain. To address this, we introduce a curated dataset sourced from an Enterprise Resource Planning (ERP) system, featuring extensive linked tables. This dataset is specifically designed to support research endeavors in table representation learning. By providing access to authentic enterprise data, our goal is to potentially enhance the effectiveness and applicability of models for real-world business contexts.

Large Language Models (LLMs) have shown promise for financial applications, yet their suitability for this high-stakes domain remains largely unproven due to inadequacies in existing benchmarks. Existing benchmarks solely rely on score-level evaluation, summarizing performance with a single score that obscures the nuanced understanding of what models truly know and their precise limitations. They also rely on datasets that cover only a narrow subset of financial concepts, while overlooking other essentials for real-world applications. To address these gaps, we introduce FinCDM, the first cognitive diagnosis evaluation framework tailored for financial LLMs, enabling the evaluation of LLMs at the knowledge-skill level, identifying what financial skills and knowledge they have or lack based on their response patterns across skill-tagged tasks, rather than a single aggregated number. We construct CPA-QKA, the first cognitively informed financial evaluation dataset derived from the Certified Public Accountant (CPA) examination, with comprehensive coverage of real-world accounting and financial skills. It is rigorously annotated by domain experts, who author, validate, and annotate questions with high inter-annotator agreement and fine-grained knowledge labels. Our extensive experiments on 30 proprietary, open-source, and domain-specific LLMs show that FinCDM reveals hidden knowledge gaps, identifies under-tested areas such as tax and regulatory reasoning overlooked by traditional benchmarks, and uncovers behavioral clusters among models. FinCDM introduces a new paradigm for financial LLM evaluation by enabling interpretable, skill-aware diagnosis that supports more trustworthy and targeted model development, and all datasets and evaluation scripts will be publicly released to support further research.

Recent releases of pre-trained Large Language Models (LLMs) have gained considerable traction, yet research on fine-tuning and employing domain-specific LLMs remains scarce. This study investigates approaches for fine-tuning and leveraging domain-specific LLMs, highlighting trends in LLMs, foundational models, and methods for domain-specific pre-training. Focusing on the financial sector, it details dataset selection, preprocessing, model choice, and considerations crucial for LLM fine-tuning in finance. Addressing the unique characteristics of financial data, the study explores the construction of domain-specific vocabularies and considerations for security and regulatory compliance. In the practical application of LLM fine-tuning, the study outlines the procedure and implementation for generating domain-specific LLMs in finance. Various financial cases, including stock price prediction, sentiment analysis of financial news, automated document processing, research, information extraction, and customer service enhancement, are exemplified. The study explores the potential of LLMs in the financial domain, identifies limitations, and proposes directions for improvement, contributing valuable insights for future research. Ultimately, it advances natural language processing technology in business, suggesting proactive LLM utilization in financial services across industries.

We introduce the AnnoPage Dataset, a novel collection of 7550 pages from historical documents, primarily in Czech and German, spanning from 1485 to the present, focusing on the late 19th and early 20th centuries. The dataset is designed to support research in document layout analysis and object detection. Each page is annotated with axis-aligned bounding boxes (AABB) representing elements of 25 categories of non-textual elements, such as images, maps, decorative elements, or charts, following the Czech Methodology of image document processing. The annotations were created by expert librarians to ensure accuracy and consistency. The dataset also incorporates pages from multiple, mainly historical, document datasets to enhance variability and maintain continuity. The dataset is divided into development and test subsets, with the test set carefully selected to maintain the category distribution. We provide baseline results using YOLO and DETR object detectors, offering a reference point for future research. The AnnoPage Dataset is publicly available on Zenodo (https://doi.org/10.5281/zenodo.12788419), along with ground-truth annotations in YOLO format.

In this study, we explore the application of sentiment analysis on financial news headlines to understand investor sentiment. By leveraging Natural Language Processing (NLP) and Large Language Models (LLM), we analyze sentiment from the perspective of retail investors. The FinancialPhraseBank dataset, which contains categorized sentiments of financial news headlines, serves as the basis for our analysis. We fine-tuned several models, including distilbert-base-uncased, Llama, and gemma-7b, to evaluate their effectiveness in sentiment classification. Our experiments demonstrate that the fine-tuned gemma-7b model outperforms others, achieving the highest precision, recall, and F1 score. Specifically, the gemma-7b model showed significant improvements in accuracy after fine-tuning, indicating its robustness in capturing the nuances of financial sentiment. This model can be instrumental in providing market insights, risk management, and aiding investment decisions by accurately predicting the sentiment of financial news. The results highlight the potential of advanced LLMs in transforming how we analyze and interpret financial information, offering a powerful tool for stakeholders in the financial industry.

Multimodal Large Language Models (MLLMs) have made substantial progress in recent years. However, their rigorous evaluation within specialized domains like finance is hindered by the absence of datasets characterized by professional-level knowledge intensity, detailed annotations, and advanced reasoning complexity. To address this critical gap, we introduce FinMR, a high-quality, knowledge-intensive multimodal dataset explicitly designed to evaluate expert-level financial reasoning capabilities at a professional analyst's standard. FinMR comprises over 3,200 meticulously curated and expertly annotated question-answer pairs across 15 diverse financial topics, ensuring broad domain diversity and integrating sophisticated mathematical reasoning, advanced financial knowledge, and nuanced visual interpretation tasks across multiple image types. Through comprehensive benchmarking with leading closed-source and open-source MLLMs, we highlight significant performance disparities between these models and professional financial analysts, uncovering key areas for model advancement, such as precise image analysis, accurate application of complex financial formulas, and deeper contextual financial understanding. By providing richly varied visual content and thorough explanatory annotations, FinMR establishes itself as an essential benchmark tool for assessing and advancing multimodal financial reasoning toward professional analyst-level competence.

Search has emerged as core infrastructure for LLM-based agents and is widely viewed as critical on the path toward more general intelligence. Finance is a particularly demanding proving ground: analysts routinely conduct complex, multi-step searches over time-sensitive, domain-specific data, making it ideal for assessing both search proficiency and knowledge-grounded reasoning. Yet no existing open financial datasets evaluate data searching capability of end-to-end agents, largely because constructing realistic, complicated tasks requires deep financial expertise and time-sensitive data is hard to evaluate. We present FinSearchComp, the first fully open-source agent benchmark for realistic, open-domain financial search and reasoning. FinSearchComp comprises three tasks -- Time-Sensitive Data Fetching, Simple Historical Lookup, and Complex Historical Investigation -- closely reproduce real-world financial analyst workflows. To ensure difficulty and reliability, we engage 70 professional financial experts for annotation and implement a rigorous multi-stage quality-assurance pipeline. The benchmark includes 635 questions spanning global and Greater China markets, and we evaluate 21 models (products) on it. Grok 4 (web) tops the global subset, approaching expert-level accuracy. DouBao (web) leads on the Greater China subset. Experimental analyses show that equipping agents with web search and financial plugins substantially improves results on FinSearchComp, and the country origin of models and tools impact performance significantly.By aligning with realistic analyst tasks and providing end-to-end evaluation, FinSearchComp offers a professional, high-difficulty testbed for complex financial search and reasoning.

The rapid rollout of AI in heterogeneous public and societal sectors has subsequently escalated the need for compliance with regulatory standards and frameworks. The EU AI Act has emerged as a landmark in the regulatory landscape. The development of solutions that elicit the level of AI systems' compliance with such standards is often limited by the lack of resources, hindering the semi-automated or automated evaluation of their performance. This generates the need for manual work, which is often error-prone, resource-limited or limited to cases not clearly described by the regulation. This paper presents an open, transparent, and reproducible method of creating a resource that facilitates the evaluation of NLP models with a strong focus on RAG systems. We have developed a dataset that contain the tasks of risk-level classification, article retrieval, obligation generation, and question-answering for the EU AI Act. The dataset files are in a machine-to-machine appropriate format. To generate the files, we utilise domain knowledge as an exegetical basis, combining with the processing and reasoning power of large language models to generate scenarios along with the respective tasks. Our methodology demonstrates a way to harness language models for grounded generation with high document relevancy. Besides, we overcome limitations such as navigating the decision boundaries of risk-levels that are not explicitly defined within the EU AI Act, such as limited and minimal cases. Finally, we demonstrate our dataset's effectiveness by evaluating a RAG-based solution that reaches 0.87 and 0.85 F1-score for prohibited and high-risk scenarios.

We introduce FinCriticalED (Financial Critical Error Detection), a visual benchmark for evaluating OCR and vision language models on financial documents at the fact level. Financial documents contain visually dense and table heavy layouts where numerical and temporal information is tightly coupled with structure. In high stakes settings, small OCR mistakes such as sign inversion or shifted dates can lead to materially different interpretations, while traditional OCR metrics like ROUGE and edit distance capture only surface level text similarity. \ficriticaled provides 500 image-HTML pairs with expert annotated financial facts covering over seven hundred numerical and temporal facts. It introduces three key contributions. First, it establishes the first fact level evaluation benchmark for financial document understanding, shifting evaluation from lexical overlap to domain critical factual correctness. Second, all annotations are created and verified by financial experts with strict quality control over signs, magnitudes, and temporal expressions. Third, we develop an LLM-as-Judge evaluation pipeline that performs structured fact extraction and contextual verification for visually complex financial documents. We benchmark OCR systems, open source vision language models, and proprietary models on FinCriticalED. Results show that although the strongest proprietary models achieve the highest factual accuracy, substantial errors remain in visually intricate numerical and temporal contexts. Through quantitative evaluation and expert case studies, FinCriticalED provides a rigorous foundation for advancing visual factual precision in financial and other precision critical domains.

This study develops FinText, a financial word embedding compiled from 15 years of business news archives. The results show that FinText produces substantially more accurate results than general word embeddings based on the gold-standard financial benchmark we introduced. In contrast to well-known econometric models, and over the sample period from 27 July 2007 to 27 January 2022 for 23 NASDAQ stocks, using stock-related news, our simple natural language processing model supported by different word embeddings improves realised volatility forecasts on high volatility days. This improvement in realised volatility forecasting performance switches to normal volatility days when general hot news is used. By utilising SHAP, an Explainable AI method, we also identify and classify key phrases in stock-related and general hot news that moved volatility.

This paper introduces the FinSen dataset that revolutionizes financial market analysis by integrating economic and financial news articles from 197 countries with stock market data. The dataset's extensive coverage spans 15 years from 2007 to 2023 with temporal information, offering a rich, global perspective with 160,000 records on financial market news. Our study leverages causally validated sentiment scores and LSTM models to enhance market forecast accuracy and reliability. Utilizing the FinSen dataset, we introduce an innovative Focal Calibration Loss, reducing Expected Calibration Error (ECE) to 3.34 percent with the DAN 3 model. This not only improves prediction accuracy but also aligns probabilistic forecasts closely with real outcomes, crucial for the financial sector where predicted probability is paramount. Our approach demonstrates the effectiveness of combining sentiment analysis with precise calibration techniques for trustworthy financial forecasting where the cost of misinterpretation can be high. Finsen Data can be found at [this github URL](https://github.com/EagleAdelaide/FinSen_Dataset.git).

We present the setup and the tasks of the FinMMEval Lab at CLEF 2026, which introduces the first multilingual and multimodal evaluation framework for financial Large Language Models (LLMs). While recent advances in financial natural language processing have enabled automated analysis of market reports, regulatory documents, and investor communications, existing benchmarks remain largely monolingual, text-only, and limited to narrow subtasks. FinMMEval 2026 addresses this gap by offering three interconnected tasks that span financial understanding, reasoning, and decision-making: Financial Exam Question Answering, Multilingual Financial Question Answering (PolyFiQA), and Financial Decision Making. Together, these tasks provide a comprehensive evaluation suite that measures models' ability to reason, generalize, and act across diverse languages and modalities. The lab aims to promote the development of robust, transparent, and globally inclusive financial AI systems, with datasets and evaluation resources publicly released to support reproducible research.

Effective fraud detection and analysis of government-issued identity documents, such as passports, driver's licenses, and identity cards, are essential in thwarting identity theft and bolstering security on online platforms. The training of accurate fraud detection and analysis tools depends on the availability of extensive identity document datasets. However, current publicly available benchmark datasets for identity document analysis, including MIDV-500, MIDV-2020, and FMIDV, fall short in several respects: they offer a limited number of samples, cover insufficient varieties of fraud patterns, and seldom include alterations in critical personal identifying fields like portrait images, limiting their utility in training models capable of detecting realistic frauds while preserving privacy. In response to these shortcomings, our research introduces a new benchmark dataset, IDNet, designed to advance privacy-preserving fraud detection efforts. The IDNet dataset comprises 837,060 images of synthetically generated identity documents, totaling approximately 490 gigabytes, categorized into 20 types from 10 U.S. states and 10 European countries. We evaluate the utility and present use cases of the dataset, illustrating how it can aid in training privacy-preserving fraud detection methods, facilitating the generation of camera and video capturing of identity documents, and testing schema unification and other identity document management functionalities.

Leveraging large language models in real-world settings often entails a need to utilize domain-specific data and tools in order to follow the complex regulations that need to be followed for acceptable use. Within financial sectors, modern enterprises increasingly rely on Retrieval-Augmented Generation (RAG) systems to address complex compliance requirements in financial document workflows. However, existing solutions struggle to account for the inherent heterogeneity of data (e.g., text, tables, diagrams) and evolving nature of regulatory standards used in financial filings, leading to compromised accuracy in critical information extraction. We propose the FinSage framework as a solution, utilizing a multi-aspect RAG framework tailored for regulatory compliance analysis in multi-modal financial documents. FinSage introduces three innovative components: (1) a multi-modal pre-processing pipeline that unifies diverse data formats and generates chunk-level metadata summaries, (2) a multi-path sparse-dense retrieval system augmented with query expansion (HyDE) and metadata-aware semantic search, and (3) a domain-specialized re-ranking module fine-tuned via Direct Preference Optimization (DPO) to prioritize compliance-critical content. Extensive experiments demonstrate that FinSage achieves an impressive recall of 92.51% on 75 expert-curated questions derived from surpasses the best baseline method on the FinanceBench question answering datasets by 24.06% in accuracy. Moreover, FinSage has been successfully deployed as financial question-answering agent in online meetings, where it has already served more than 1,200 people.

This paper presents a new synthetic dataset of ID and travel documents, called SIDTD. The SIDTD dataset is created to help training and evaluating forged ID documents detection systems. Such a dataset has become a necessity as ID documents contain personal information and a public dataset of real documents can not be released. Moreover, forged documents are scarce, compared to legit ones, and the way they are generated varies from one fraudster to another resulting in a class of high intra-variability. In this paper we trained state-of-the-art models on this dataset and we compare them to the performance achieved in larger, but private, datasets. The creation of this dataset will help to document image analysis community to progress in the task of ID document verification.

The financial domain poses unique challenges for knowledge graph (KG) construction at scale due to the complexity and regulatory nature of financial documents. Despite the critical importance of structured financial knowledge, the field lacks large-scale, open-source datasets capturing rich semantic relationships from corporate disclosures. We introduce an open-source, large-scale financial knowledge graph dataset built from the latest annual SEC 10-K filings of all S and P 100 companies - a comprehensive resource designed to catalyze research in financial AI. We propose a robust and generalizable knowledge graph (KG) construction framework that integrates intelligent document parsing, table-aware chunking, and schema-guided iterative extraction with a reflection-driven feedback loop. Our system incorporates a comprehensive evaluation pipeline, combining rule-based checks, statistical validation, and LLM-as-a-Judge assessments to holistically measure extraction quality. We support three extraction modes - single-pass, multi-pass, and reflection-agent-based - allowing flexible trade-offs between efficiency, accuracy, and reliability based on user requirements. Empirical evaluations demonstrate that the reflection-agent-based mode consistently achieves the best balance, attaining a 64.8 percent compliance score against all rule-based policies (CheckRules) and outperforming baseline methods (single-pass and multi-pass) across key metrics such as precision, comprehensiveness, and relevance in LLM-guided evaluations.

Training machine learning approaches for vulnerability identification and producing reliable tools to assist developers in implementing quality software -- free of vulnerabilities -- is challenging due to the lack of large datasets and real data. Researchers have been looking at these issues and building datasets. However, these datasets usually miss natural language artifacts and programming language diversity. We scraped the entire CVE details database for GitHub references and augmented the data with 3 security-related datasets. We used the data to create a ground-truth dataset of natural language artifacts (such as commit messages, commits comments, and summaries), meta-data and code changes. Our dataset integrates a total of 8057 security-relevant commits -- the equivalent to 5942 security patches -- from 1339 different projects spanning 146 different types of vulnerabilities and 20 languages. A dataset of 110k non-security-related commits is also provided. Data and scripts are all available on GitHub. Data is stored in a .CSV file. Codebases can be downloaded using our scripts. Our dataset is a valuable asset to answer research questions on different topics such as the identification of security-relevant information using NLP models; software engineering and security best practices; and, vulnerability detection and patching; and, security program analysis.

Large-scale data sets on scholarly publications are the basis for a variety of bibliometric analyses and natural language processing (NLP) applications. Especially data sets derived from publication's full-text have recently gained attention. While several such data sets already exist, we see key shortcomings in terms of their domain and time coverage, citation network completeness, and representation of full-text content. To address these points, we propose a new version of the data set unarXive. We base our data processing pipeline and output format on two existing data sets, and improve on each of them. Our resulting data set comprises 1.9 M publications spanning multiple disciplines and 32 years. It furthermore has a more complete citation network than its predecessors and retains a richer representation of document structure as well as non-textual publication content such as mathematical notation. In addition to the data set, we provide ready-to-use training/test data for citation recommendation and IMRaD classification. All data and source code is publicly available at https://github.com/IllDepence/unarXive.

Financial organizations collect a huge amount of data about clients that typically has a temporal (sequential) structure and is collected from various sources (modalities). Due to privacy issues, there are no large-scale open-source multimodal datasets of event sequences, which significantly limits the research in this area. In this paper, we present the industrial-scale publicly available multimodal banking dataset, MBD, that contains more than 1.5M corporate clients with several modalities: 950M bank transactions, 1B geo position events, 5M embeddings of dialogues with technical support and monthly aggregated purchases of four bank's products. All entries are properly anonymized from real proprietary bank data. Using this dataset, we introduce a novel benchmark with two business tasks: campaigning (purchase prediction in the next month) and matching of clients. We provide numerical results that demonstrate the superiority of our multi-modal baselines over single-modal techniques for each task. As a result, the proposed dataset can open new perspectives and facilitate the future development of practically important large-scale multimodal algorithms for event sequences. HuggingFace Link: https://huggingface.co/datasets/ai-lab/MBD Github Link: https://github.com/Dzhambo/MBD

The development of annotated datasets over the 21st century has helped us truly realize the power of deep learning. Most of the datasets created for the named-entity-recognition (NER) task are not domain specific. Finance domain presents specific challenges to the NER task and a domain specific dataset would help push the boundaries of finance research. In our work, we develop the first high-quality NER dataset for the finance domain. To set the benchmark for the dataset, we develop and test a weak-supervision-based framework for the NER task. We extend the current weak-supervision framework to make it employable for span-level classification. Our weak-ner framework and the dataset are publicly available on GitHub and Hugging Face.

There is a compelling necessity from enterprises for fine tuning LLMs (Large Language Models) o get them trained on proprietary domain knowledge. The challenge is to imbibe the LLMs with domain specific knowledge using the most optimial resource and cost and in the best possible time. Many enterprises rely on RAG (Retrieval Augmented Generation) which does not need LLMs to be ine-tuned but they are limited by the quality of vector databases and their retrieval capabilities rather than the intrinsic capabilities of the LLMs themselves. In our current work we focus on fine tuning LLaMA, an open source LLM using proprietary documents and code from an enterprise repository and use the fine tuned models to evaluate the quality of responses. As part of this work, we aim to guide beginners on how to start with fine tuning an LLM for documentation and code by making educated guesses on size of GPU required and options that are available for formatting the data. We also propose pre processing recipes for both documentation and code to prepare dataset in different formats. The proposed methods of data preparation for document datasets are forming paragraph chunks, forming question and answer pairs and forming keyword and paragraph chunk pairs. For code dataset we propose forming summary and function pairs. Further, we qualitatively evaluate the results of the models for domain specific queries. Finally, we also propose practical guidelines and recommendations for fine tuning LLMs.

Systematic literature reviews (SLRs) play an essential role in summarising, synthesising and validating scientific evidence. In recent years, there has been a growing interest in using machine learning techniques to automate the identification of relevant studies for SLRs. However, the lack of standardised evaluation datasets makes comparing the performance of such automated literature screening systems difficult. In this paper, we analyse the citation screening evaluation datasets, revealing that many of the available datasets are either too small, suffer from data leakage or have limited applicability to systems treating automated literature screening as a classification task, as opposed to, for example, a retrieval or question-answering task. To address these challenges, we introduce CSMeD, a meta-dataset consolidating nine publicly released collections, providing unified access to 325 SLRs from the fields of medicine and computer science. CSMeD serves as a comprehensive resource for training and evaluating the performance of automated citation screening models. Additionally, we introduce CSMeD-FT, a new dataset designed explicitly for evaluating the full text publication screening task. To demonstrate the utility of CSMeD, we conduct experiments and establish baselines on new datasets.

Hallucination remains a critical challenge for deploying Large Language Models (LLMs) in finance. Accurate extraction and precise calculation from tabular data are essential for reliable financial analysis, since even minor numerical errors can undermine decision-making and regulatory compliance. Financial applications have unique requirements, often relying on context-dependent, numerical, and proprietary tabular data that existing hallucination benchmarks rarely capture. In this study, we develop a rigorous and scalable framework for evaluating intrinsic hallucinations in financial LLMs, conceptualized as a context-aware masked span prediction task over real-world financial documents. Our main contributions are: (1) a novel, automated dataset creation paradigm using a masking strategy; (2) a new hallucination evaluation dataset derived from S&P 500 annual reports; and (3) a comprehensive evaluation of intrinsic hallucination patterns in state-of-the-art LLMs on financial tabular data. Our work provides a robust methodology for in-house LLM evaluation and serves as a critical step toward building more trustworthy and reliable financial Generative AI systems.

Optical Character Recognition is a technique that converts document images into searchable and editable text, making it a valuable tool for processing scanned documents. While the Farsi language stands as a prominent and official language in Asia, efforts to develop efficient methods for recognizing Farsi printed text have been relatively limited. This is primarily attributed to the languages distinctive features, such as cursive form, the resemblance between certain alphabet characters, and the presence of numerous diacritics and dot placement. On the other hand, given the substantial training sample requirements of deep-based architectures for effective performance, the development of such datasets holds paramount significance. In light of these concerns, this paper aims to present a novel large-scale dataset, IDPL-PFOD2, tailored for Farsi printed text recognition. The dataset comprises 2003541 images featuring a wide variety of fonts, styles, and sizes. This dataset is an extension of the previously introduced IDPL-PFOD dataset, offering a substantial increase in both volume and diversity. Furthermore, the datasets effectiveness is assessed through the utilization of both CRNN-based and Vision Transformer architectures. The CRNN-based model achieves a baseline accuracy rate of 78.49% and a normalized edit distance of 97.72%, while the Vision Transformer architecture attains an accuracy of 81.32% and a normalized edit distance of 98.74%.

Fact-checking in financial domain is under explored, and there is a shortage of quality dataset in this domain. In this paper, we propose Fin-Fact, a benchmark dataset for multimodal fact-checking within the financial domain. Notably, it includes professional fact-checker annotations and justifications, providing expertise and credibility. With its multimodal nature encompassing both textual and visual content, Fin-Fact provides complementary information sources to enhance factuality analysis. Its primary objective is combating misinformation in finance, fostering transparency, and building trust in financial reporting and news dissemination. By offering insightful explanations, Fin-Fact empowers users, including domain experts and end-users, to understand the reasoning behind fact-checking decisions, validating claim credibility, and fostering trust in the fact-checking process. The Fin-Fact dataset, along with our experimental codes is available at https://github.com/IIT-DM/Fin-Fact/.

Annual Reports of publicly listed companies contain vital information about their financial health which can help assess the potential impact on Stock price of the firm. These reports are comprehensive in nature, going up to, and sometimes exceeding, 100 pages. Analysing these reports is cumbersome even for a single firm, let alone the whole universe of firms that exist. Over the years, financial experts have become proficient in extracting valuable information from these documents relatively quickly. However, this requires years of practice and experience. This paper aims to simplify the process of assessing Annual Reports of all the firms by leveraging the capabilities of Large Language Models (LLMs). The insights generated by the LLM are compiled in a Quant styled dataset and augmented by historical stock price data. A Machine Learning model is then trained with LLM outputs as features. The walkforward test results show promising outperformance wrt S&P500 returns. This paper intends to provide a framework for future work in this direction. To facilitate this, the code has been released as open source.

Evaluating new techniques on realistic datasets plays a crucial role in the development of ML research and its broader adoption by practitioners. In recent years, there has been a significant increase of publicly available unstructured data resources for computer vision and NLP tasks. However, tabular data -- which is prevalent in many high-stakes domains -- has been lagging behind. To bridge this gap, we present Bank Account Fraud (BAF), the first publicly available privacy-preserving, large-scale, realistic suite of tabular datasets. The suite was generated by applying state-of-the-art tabular data generation techniques on an anonymized,real-world bank account opening fraud detection dataset. This setting carries a set of challenges that are commonplace in real-world applications, including temporal dynamics and significant class imbalance. Additionally, to allow practitioners to stress test both performance and fairness of ML methods, each dataset variant of BAF contains specific types of data bias. With this resource, we aim to provide the research community with a more realistic, complete, and robust test bed to evaluate novel and existing methods.

Financial Technology (FinTech) is one of the worldwide rapidly-rising topics in the past five years according to the statistics of FinTech from Google Trends. In this position paper, we focus on the researches applying natural language processing (NLP) technologies in the finance domain. Our goal is to indicate the position we are now and provide the blueprint for future researches. We go through the application scenarios from three aspects including Know Your Customer (KYC), Know Your Product (KYP), and Satisfy Your Customer (SYC). Both formal documents and informal textual data are analyzed to understand corporate customers and personal customers. Furthermore, we talk over how to dynamically update the features of products from the prospect and the risk points of view. Finally, we discuss satisfying the customers in both B2C and C2C business models. After summarizing the past and the recent challenges, we highlight several promising future research directions in the trend of FinTech and the open finance tendency.

Recent advances in large language models (LLMs) have unlocked novel opportunities for machine learning applications in the financial domain. These models have demonstrated remarkable capabilities in understanding context, processing vast amounts of data, and generating human-preferred contents. In this survey, we explore the application of LLMs on various financial tasks, focusing on their potential to transform traditional practices and drive innovation. We provide a discussion of the progress and advantages of LLMs in financial contexts, analyzing their advanced technologies as well as prospective capabilities in contextual understanding, transfer learning flexibility, complex emotion detection, etc. We then highlight this survey for categorizing the existing literature into key application areas, including linguistic tasks, sentiment analysis, financial time series, financial reasoning, agent-based modeling, and other applications. For each application area, we delve into specific methodologies, such as textual analysis, knowledge-based analysis, forecasting, data augmentation, planning, decision support, and simulations. Furthermore, a comprehensive collection of datasets, model assets, and useful codes associated with mainstream applications are presented as resources for the researchers and practitioners. Finally, we outline the challenges and opportunities for future research, particularly emphasizing a number of distinctive aspects in this field. We hope our work can help facilitate the adoption and further development of LLMs in the financial sector.

Retrieval-Augmented Generation (RAG) plays a vital role in the financial domain, powering applications such as real-time market analysis, trend forecasting, and interest rate computation. However, most existing RAG research in finance focuses predominantly on textual data, overlooking the rich visual content in financial documents, resulting in the loss of key analytical insights. To bridge this gap, we present FinRAGBench-V, a comprehensive visual RAG benchmark tailored for finance which effectively integrates multimodal data and provides visual citation to ensure traceability. It includes a bilingual retrieval corpus with 60,780 Chinese and 51,219 English pages, along with a high-quality, human-annotated question-answering (QA) dataset spanning heterogeneous data types and seven question categories. Moreover, we introduce RGenCite, an RAG baseline that seamlessly integrates visual citation with generation. Furthermore, we propose an automatic citation evaluation method to systematically assess the visual citation capabilities of Multimodal Large Language Models (MLLMs). Extensive experiments on RGenCite underscore the challenging nature of FinRAGBench-V, providing valuable insights for the development of multimodal RAG systems in finance.

Recent breakthroughs in large language models (LLMs) have led to the development of new benchmarks for evaluating their performance in the financial domain. However, current financial benchmarks often rely on news articles, earnings reports, or announcements, making it challenging to capture the real-world dynamics of financial meetings. To address this gap, we propose a novel benchmark called M^3FinMeeting, which is a multilingual, multi-sector, and multi-task dataset designed for financial meeting understanding. First, M^3FinMeeting supports English, Chinese, and Japanese, enhancing comprehension of financial discussions in diverse linguistic contexts. Second, it encompasses various industry sectors defined by the Global Industry Classification Standard (GICS), ensuring that the benchmark spans a broad range of financial activities. Finally, M^3FinMeeting includes three tasks: summarization, question-answer (QA) pair extraction, and question answering, facilitating a more realistic and comprehensive evaluation of understanding. Experimental results with seven popular LLMs reveal that even the most advanced long-context models have significant room for improvement, demonstrating the effectiveness of M^3FinMeeting as a benchmark for assessing LLMs' financial meeting comprehension skills.

The scale, variety, and quantity of publicly-available NLP datasets has grown rapidly as researchers propose new tasks, larger models, and novel benchmarks. Datasets is a community library for contemporary NLP designed to support this ecosystem. Datasets aims to standardize end-user interfaces, versioning, and documentation, while providing a lightweight front-end that behaves similarly for small datasets as for internet-scale corpora. The design of the library incorporates a distributed, community-driven approach to adding datasets and documenting usage. After a year of development, the library now includes more than 650 unique datasets, has more than 250 contributors, and has helped support a variety of novel cross-dataset research projects and shared tasks. The library is available at https://github.com/huggingface/datasets.

The rapid advancements in Large Language Models (LLMs) have unlocked transformative possibilities in natural language processing, particularly within the financial sector. Financial data is often embedded in intricate relationships across textual content, numerical tables, and visual charts, posing challenges that traditional methods struggle to address effectively. However, the emergence of LLMs offers new pathways for processing and analyzing this multifaceted data with increased efficiency and insight. Despite the fast pace of innovation in LLM research, there remains a significant gap in their practical adoption within the finance industry, where cautious integration and long-term validation are prioritized. This disparity has led to a slower implementation of emerging LLM techniques, despite their immense potential in financial applications. As a result, many of the latest advancements in LLM technology remain underexplored or not fully utilized in this domain. This survey seeks to bridge this gap by providing a comprehensive overview of recent developments in LLM research and examining their applicability to the financial sector. Building on previous survey literature, we highlight several novel LLM methodologies, exploring their distinctive capabilities and their potential relevance to financial data analysis. By synthesizing insights from a broad range of studies, this paper aims to serve as a valuable resource for researchers and practitioners, offering direction on promising research avenues and outlining future opportunities for advancing LLM applications in finance.

This paper embarks on an exploration into the Large Language Model (LLM) datasets, which play a crucial role in the remarkable advancements of LLMs. The datasets serve as the foundational infrastructure analogous to a root system that sustains and nurtures the development of LLMs. Consequently, examination of these datasets emerges as a critical topic in research. In order to address the current lack of a comprehensive overview and thorough analysis of LLM datasets, and to gain insights into their current status and future trends, this survey consolidates and categorizes the fundamental aspects of LLM datasets from five perspectives: (1) Pre-training Corpora; (2) Instruction Fine-tuning Datasets; (3) Preference Datasets; (4) Evaluation Datasets; (5) Traditional Natural Language Processing (NLP) Datasets. The survey sheds light on the prevailing challenges and points out potential avenues for future investigation. Additionally, a comprehensive review of the existing available dataset resources is also provided, including statistics from 444 datasets, covering 8 language categories and spanning 32 domains. Information from 20 dimensions is incorporated into the dataset statistics. The total data size surveyed surpasses 774.5 TB for pre-training corpora and 700M instances for other datasets. We aim to present the entire landscape of LLM text datasets, serving as a comprehensive reference for researchers in this field and contributing to future studies. Related resources are available at: https://github.com/lmmlzn/Awesome-LLMs-Datasets.

Large datasets underlying much of current machine learning raise serious issues concerning inappropriate content such as offensive, insulting, threatening, or might otherwise cause anxiety. This calls for increased dataset documentation, e.g., using datasheets. They, among other topics, encourage to reflect on the composition of the datasets. So far, this documentation, however, is done manually and therefore can be tedious and error-prone, especially for large image datasets. Here we ask the arguably "circular" question of whether a machine can help us reflect on inappropriate content, answering Question 16 in Datasheets. To this end, we propose to use the information stored in pre-trained transformer models to assist us in the documentation process. Specifically, prompt-tuning based on a dataset of socio-moral values steers CLIP to identify potentially inappropriate content, therefore reducing human labor. We then document the inappropriate images found using word clouds, based on captions generated using a vision-language model. The documentations of two popular, large-scale computer vision datasets -- ImageNet and OpenImages -- produced this way suggest that machines can indeed help dataset creators to answer Question 16 on inappropriate image content.

As Large Language Models (LLMs) increasingly address domain-specific problems, their application in the financial sector has expanded rapidly. Tasks that are both highly valuable and time-consuming, such as analyzing financial statements, disclosures, and related documents, are now being effectively tackled using LLMs. This paper details the development of a high-performance, finance-specific Retrieval-Augmented Generation (RAG) system for the ACM-ICAIF '24 FinanceRAG competition. We optimized performance through ablation studies on query expansion and corpus refinement during the pre-retrieval phase. To enhance retrieval accuracy, we employed multiple reranker models. Notably, we introduced an efficient method for managing long context sizes during the generation phase, significantly improving response quality without sacrificing performance. We ultimately achieve 2nd place in the FinanceRAG Challenge. Our key contributions include: (1) pre-retrieval ablation analysis, (2) an enhanced retrieval algorithm, and (3) a novel approach for long-context management. This work demonstrates the potential of LLMs in effectively processing and analyzing complex financial data to generate accurate and valuable insights. The source code and further details are available at https://github.com/cv-lee/FinanceRAG.

Multimodal Large Language Models (MLLMs) have experienced rapid development in recent years. However, in the financial domain, there is a notable lack of effective and specialized multimodal evaluation datasets. To advance the development of MLLMs in the finance domain, we introduce FinMME, encompassing more than 11,000 high-quality financial research samples across 18 financial domains and 6 asset classes, featuring 10 major chart types and 21 subtypes. We ensure data quality through 20 annotators and carefully designed validation mechanisms. Additionally, we develop FinScore, an evaluation system incorporating hallucination penalties and multi-dimensional capability assessment to provide an unbiased evaluation. Extensive experimental results demonstrate that even state-of-the-art models like GPT-4o exhibit unsatisfactory performance on FinMME, highlighting its challenging nature. The benchmark exhibits high robustness with prediction variations under different prompts remaining below 1%, demonstrating superior reliability compared to existing datasets. Our dataset and evaluation protocol are available at https://huggingface.co/datasets/luojunyu/FinMME and https://github.com/luo-junyu/FinMME.

Scientific researchers need intensive information about datasets to effectively evaluate and develop theories and methodologies. The information needs regarding datasets are implicitly embedded in particular research tasks, rather than explicitly expressed in search queries. However, existing scientific retrieval and question-answering (QA) datasets typically address straightforward questions, which do not align with the distribution of real-world research inquiries. To bridge this gap, we developed ScIRGen, a dataset generation framework for scientific QA \& retrieval that more accurately reflects the information needs of professional science researchers, and uses it to create a large-scale scientific retrieval-augmented generation (RAG) dataset with realistic queries, datasets and papers. Technically, we designed a dataset-oriented information extraction method that leverages academic papers to augment the dataset representation. We then proposed a question generation framework by employing cognitive taxonomy to ensure the quality of synthesized questions. We also design a method to automatically filter synthetic answers based on the perplexity shift of LLMs, which is highly aligned with human judgment of answers' validity. Collectively, these methodologies culminated in the creation of the 61k QA dataset, ScIRGen-Geo. We benchmarked representative methods on the ScIRGen-Geo dataset for their question-answering and retrieval capabilities, finding out that current methods still suffer from reasoning from complex questions. This work advances the development of more sophisticated tools to support the intricate information needs of the scientific community.

We describe a dataset developed for Named Entity Recognition in German federal court decisions. It consists of approx. 67,000 sentences with over 2 million tokens. The resource contains 54,000 manually annotated entities, mapped to 19 fine-grained semantic classes: person, judge, lawyer, country, city, street, landscape, organization, company, institution, court, brand, law, ordinance, European legal norm, regulation, contract, court decision, and legal literature. The legal documents were, furthermore, automatically annotated with more than 35,000 TimeML-based time expressions. The dataset, which is available under a CC-BY 4.0 license in the CoNNL-2002 format, was developed for training an NER service for German legal documents in the EU project Lynx.

While most financial documents contain a combination of textual and tabular information, robust Retrieval-Augmented Generation (RAG) systems are essential for effectively accessing and reasoning over such content to perform complex numerical tasks. This paper introduces T^2-RAGBench, a benchmark comprising 32,908 question-context-answer triples, designed to evaluate RAG methods on real-world financial data. Unlike typical QA datasets that operate under Oracle-context settings, where the relevant context is explicitly provided, T^2-RAGBench challenges models to first retrieve the correct context before conducting numerical reasoning. Existing QA datasets involving text and tables typically contain context-dependent questions, which may yield multiple correct answers depending on the provided context. To address this, we transform these datasets into a context-independent format, enabling reliable RAG evaluation. We conduct a comprehensive evaluation of popular RAG methods. Our analysis identifies Hybrid BM25, a technique that combines dense and sparse vectors, as the most effective approach for text-and-table data. However, results demonstrate that T^2-RAGBench remains challenging even for SOTA LLMs and RAG methods. Further ablation studies examine the impact of embedding models and corpus size on retrieval performance. T^2-RAGBench provides a realistic and rigorous benchmark for existing RAG methods on text-and-table data. Code and dataset are available online.

In this paper, we extend financial sentiment analysis~(FSA) to event-level since events usually serve as the subject of the sentiment in financial text. Though extracting events from the financial text may be conducive to accurate sentiment predictions, it has specialized challenges due to the lengthy and discontinuity of events in a financial text. To this end, we reconceptualize the event extraction as a classification task by designing a categorization comprising coarse-grained and fine-grained event categories. Under this setting, we formulate the Event-Level Financial Sentiment Analysis~(EFSA for short) task that outputs quintuples consisting of (company, industry, coarse-grained event, fine-grained event, sentiment) from financial text. A large-scale Chinese dataset containing 12,160 news articles and 13,725 quintuples is publicized as a brand new testbed for our task. A four-hop Chain-of-Thought LLM-based approach is devised for this task. Systematically investigations are conducted on our dataset, and the empirical results demonstrate the benchmarking scores of existing methods and our proposed method can reach the current state-of-the-art. Our dataset and framework implementation are available at https://anonymous.4open.science/r/EFSA-645E

We release EDGAR-CORPUS, a novel corpus comprising annual reports from all the publicly traded companies in the US spanning a period of more than 25 years. To the best of our knowledge, EDGAR-CORPUS is the largest financial NLP corpus available to date. All the reports are downloaded, split into their corresponding items (sections), and provided in a clean, easy-to-use JSON format. We use EDGAR-CORPUS to train and release EDGAR-W2V, which are WORD2VEC embeddings for the financial domain. We employ these embeddings in a battery of financial NLP tasks and showcase their superiority over generic GloVe embeddings and other existing financial word embeddings. We also open-source EDGAR-CRAWLER, a toolkit that facilitates downloading and extracting future annual reports.

This paper introduces the UCFE: User-Centric Financial Expertise benchmark, an innovative framework designed to evaluate the ability of large language models (LLMs) to handle complex real-world financial tasks. UCFE benchmark adopts a hybrid approach that combines human expert evaluations with dynamic, task-specific interactions to simulate the complexities of evolving financial scenarios. Firstly, we conducted a user study involving 804 participants, collecting their feedback on financial tasks. Secondly, based on this feedback, we created our dataset that encompasses a wide range of user intents and interactions. This dataset serves as the foundation for benchmarking 12 LLM services using the LLM-as-Judge methodology. Our results show a significant alignment between benchmark scores and human preferences, with a Pearson correlation coefficient of 0.78, confirming the effectiveness of the UCFE dataset and our evaluation approach. UCFE benchmark not only reveals the potential of LLMs in the financial sector but also provides a robust framework for assessing their performance and user satisfaction.The benchmark dataset and evaluation code are available.

Teachers and students are increasingly relying on online learning resources to supplement the ones provided in school. This increase in the breadth and depth of available resources is a great thing for students, but only provided they are able to find answers to their queries. Question-answering and information retrieval systems have benefited from public datasets to train and evaluate their algorithms, but most of these datasets have been in English text written by and for adults. We introduce a new public French question-answering dataset collected from Alloprof, a Quebec-based primary and high-school help website, containing 29 349 questions and their explanations in a variety of school subjects from 10 368 students, with more than half of the explanations containing links to other questions or some of the 2 596 reference pages on the website. We also present a case study of this dataset in an information retrieval task. This dataset was collected on the Alloprof public forum, with all questions verified for their appropriateness and the explanations verified both for their appropriateness and their relevance to the question. To predict relevant documents, architectures using pre-trained BERT models were fine-tuned and evaluated. This dataset will allow researchers to develop question-answering, information retrieval and other algorithms specifically for the French speaking education context. Furthermore, the range of language proficiency, images, mathematical symbols and spelling mistakes will necessitate algorithms based on a multimodal comprehension. The case study we present as a baseline shows an approach that relies on recent techniques provides an acceptable performance level, but more work is necessary before it can reliably be used and trusted in a production setting.

Low-rank adaptation (LoRA) methods show great potential for scaling pre-trained general-purpose Large Language Models (LLMs) to hundreds or thousands of use scenarios. However, their efficacy in high-stakes domains like finance is rarely explored, e.g., passing CFA exams and analyzing SEC filings. In this paper, we present the open-source FinLoRA project that benchmarks LoRA methods on both general and highly professional financial tasks. First, we curated 19 datasets covering diverse financial applications; in particular, we created four novel XBRL analysis datasets based on 150 SEC filings. Second, we evaluated five LoRA methods and five base LLMs. Finally, we provide extensive experimental results in terms of accuracy, F1, and BERTScore and report computational cost in terms of time and GPU memory during fine-tuning and inference stages. We find that LoRA methods achieved substantial performance gains of 36\% on average over base models. Our FinLoRA project provides an affordable and scalable approach to democratize financial intelligence to the general public. Datasets, LoRA adapters, code, and documentation are available at https://github.com/Open-Finance-Lab/FinLoRA

We call on the Document AI (DocAI) community to reevaluate current methodologies and embrace the challenge of creating more practically-oriented benchmarks. Document Understanding Dataset and Evaluation (DUDE) seeks to remediate the halted research progress in understanding visually-rich documents (VRDs). We present a new dataset with novelties related to types of questions, answers, and document layouts based on multi-industry, multi-domain, and multi-page VRDs of various origins, and dates. Moreover, we are pushing the boundaries of current methods by creating multi-task and multi-domain evaluation setups that more accurately simulate real-world situations where powerful generalization and adaptation under low-resource settings are desired. DUDE aims to set a new standard as a more practical, long-standing benchmark for the community, and we hope that it will lead to future extensions and contributions that address real-world challenges. Finally, our work illustrates the importance of finding more efficient ways to model language, images, and layout in DocAI.

Institutional documents contain substantial amounts of operational and analytical information embedded within figures and tables. Current approaches for extracting visual content from documents are largely built around generic document layout analysis, where figures and tables are treated as uniformly relevant document objects rather than semantically meaningful analytical artifacts. In this work, we introduce a benchmark dataset and evaluation framework for data snapshot extraction, the task of identifying and localizing semantically meaningful visual artifacts within institutional documents. The benchmark spans humanitarian reports, World Bank policy research working papers, and project appraisal documents, and includes annotations for figures and tables that contain reusable analytical information. Using this dataset, we benchmarked multiple open-source layout detection models and evaluated both detection performance and spatial extraction quality. Our results show that current models struggle to generalize to operational institutional documents despite strong performance on conventional academic benchmarks. Common failure modes include confusion between analytical and non-analytical content, fragmentation of composite analytical artifacts, and incomplete extraction of contextual information required for interpretation. These findings highlight a persistent gap between generic document layout analysis and operationally useful data snapshot extraction. We release the source PDFs, annotation dataset, metadata, and source code to support future research in operational document intelligence. The dataset is available at https://huggingface.co/datasets/ai4data/data-snapshot and the source code is available at https://github.com/worldbank/ai4data/tree/main/experimental/data-snapshot.

Investment Analysis is a cornerstone of the Financial Services industry. The rapid integration of advanced machine learning techniques, particularly Large Language Models (LLMs), offers opportunities to enhance the equity rating process. This paper explores the application of LLMs to generate multi-horizon stock ratings by ingesting diverse datasets. Traditional stock rating methods rely heavily on the expertise of financial analysts, and face several challenges such as data overload, inconsistencies in filings, and delayed reactions to market events. Our study addresses these issues by leveraging LLMs to improve the accuracy and consistency of stock ratings. Additionally, we assess the efficacy of using different data modalities with LLMs for the financial domain. We utilize varied datasets comprising fundamental financial, market, and news data from January 2022 to June 2024, along with GPT-4-32k (v0613) (with a training cutoff in Sep. 2021 to prevent information leakage). Our results show that our benchmark method outperforms traditional stock rating methods when assessed by forward returns, specially when incorporating financial fundamentals. While integrating news data improves short-term performance, substituting detailed news summaries with sentiment scores reduces token use without loss of performance. In many cases, omitting news data entirely enhances performance by reducing bias. Our research shows that LLMs can be leveraged to effectively utilize large amounts of multimodal financial data, as showcased by their effectiveness at the stock rating prediction task. Our work provides a reproducible and efficient framework for generating accurate stock ratings, serving as a cost-effective alternative to traditional methods. Future work will extend to longer timeframes, incorporate diverse data, and utilize newer models for enhanced insights.

We introduce FinTral, a suite of state-of-the-art multimodal large language models (LLMs) built upon the Mistral-7b model and tailored for financial analysis. FinTral integrates textual, numerical, tabular, and image data. We enhance FinTral with domain-specific pretraining, instruction fine-tuning, and RLAIF training by exploiting a large collection of textual and visual datasets we curate for this work. We also introduce an extensive benchmark featuring nine tasks and 25 datasets for evaluation, including hallucinations in the financial domain. Our FinTral model trained with direct preference optimization employing advanced Tools and Retrieval methods, dubbed FinTral-DPO-T&R, demonstrates an exceptional zero-shot performance. It outperforms ChatGPT-3.5 in all tasks and surpasses GPT-4 in five out of nine tasks, marking a significant advancement in AI-driven financial technology. We also demonstrate that FinTral has the potential to excel in real-time analysis and decision-making in diverse financial contexts.

In the rapidly evolving digital era, there is an increasing demand for concise information as individuals seek to distil key insights from various sources. Recent attention from researchers on Multi-document Summarisation (MDS) has resulted in diverse datasets covering customer reviews, academic papers, medical and legal documents, and news articles. However, the English-centric nature of these datasets has created a conspicuous void for multilingual datasets in today's globalised digital landscape, where linguistic diversity is celebrated. Media platforms such as British Broadcasting Corporation (BBC) have disseminated news in 20+ languages for decades. With only 380 million people speaking English natively as their first language, accounting for less than 5% of the global population, the vast majority primarily relies on other languages. These facts underscore the need for inclusivity in MDS research, utilising resources from diverse languages. Recognising this gap, we present the Multilingual Dataset for Multi-document Summarisation (M2DS), which, to the best of our knowledge, is the first dataset of its kind. It includes document-summary pairs in five languages from BBC articles published during the 2010-2023 period. This paper introduces M2DS, emphasising its unique multilingual aspect, and includes baseline scores from state-of-the-art MDS models evaluated on our dataset.