# FinEmbedDiff: A Cost-Effective Approach of Classifying Financial Documents with Vector Sampling using Multi-modal Embedding Models

arXiv: https://arxiv.org/abs/2406.01618 · HTML: https://mlsanity.com/paper/2406.01618/

## Key facts

- No citing papers in the map yet (data through 14 Oct 2026).
- Builds on 7 of its 21 references that are in the map.
- First posted on arXiv 28 May 2024.

## Builds on (most cited first, 7 of 7)

- [Deep Residual Learning for Image Recognition](https://mlsanity.com/paper/1512.03385/) (2015)
- [BERT: Pre-training of Deep Bidirectional Transformers for Language Understanding](https://mlsanity.com/paper/1810.04805/) (2018)
- [Learning Transferable Visual Models From Natural Language Supervision](https://mlsanity.com/paper/2103.00020/) (2021)
- [Very Deep Convolutional Networks for Large-Scale Image Recognition](https://mlsanity.com/paper/1409.1556/) (2014)
- [LXMERT: Learning Cross-Modality Encoder Representations from Transformers](https://mlsanity.com/paper/1908.07490/) (2019)
- [VisualBERT: A Simple and Performant Baseline for Vision and Language](https://mlsanity.com/paper/1908.03557/) (2019)
- [FinBERT: Financial Sentiment Analysis with Pre-trained Language Models](https://mlsanity.com/paper/1908.10063/) (2019)

## Abstract (arXiv)

Accurate classification of multi-modal financial documents, containing text, tables, charts, and images, is crucial but challenging. Traditional text-based approaches often fail to capture the complex multi-modal nature of these documents. We propose FinEmbedDiff, a cost-effective vector sampling method that leverages pre-trained multi-modal embedding models to classify financial documents. Our approach generates multi-modal embedding vectors for documents, and compares new documents with pre-computed class embeddings using vector similarity measures. Evaluated on a large dataset, FinEmbedDiff achieves competitive classification accuracy compared to state-of-the-art baselines while significantly reducing computational costs. The method exhibits strong generalization capabilities, making it a practical and scalable solution for real-world financial applications.