BizFinBench: A Business-Driven Real-World Financial Benchmark for Evaluating LLMs
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Abstract (arXiv)
Large language models excel in general tasks, yet assessing their reliability in logic-heavy, precision-critical domains like finance, law, and healthcare remains challenging. To address this, we introduce BizFinBench, the first benchmark specifically designed to evaluate LLMs in real-world financial applications. BizFinBench consists of 6,781 well-annotated queries in Chinese, spanning five dimensions: numerical calculation, reasoning, information extraction, prediction recognition, and knowledge-based question answering, grouped into nine fine-grained categories. The benchmark includes both objective and subjective metrics. We also introduce IteraJudge, a novel LLM evaluation method that reduces bias when LLMs serve as evaluators in objective metrics. We benchmark 25 models, including both proprietary and open-source systems. Extensive experiments show that no model dominates across all tasks. Our evaluation reveals distinct capability patterns: (1) In Numerical Calculation, Claude-3.5-Sonnet (63.18) and DeepSeek-R1 (64.04) lead, while smaller models like Qwen2.5-VL-3B (15.92) lag significantly; (2) In Reasoning, proprietary models dominate (ChatGPT-o3: 83.58, Gemini-2.0-Flash: 81.15), with open-source models trailing by up to 19.49 points; (3) In Information Extraction, the performance spread is the largest, with DeepSeek-R1 scoring 71.46, while Qwen3-1.7B scores 11.23; (4) In Prediction Recognition, performance variance is minimal, with top models scoring between 39.16 and 50.00. We find that while current LLMs handle routine finance queries competently, they struggle with complex scenarios requiring cross-concept reasoning. BizFinBench offers a rigorous, business-aligned benchmark for future research. The code and dataset are available at https://github.com/HiThink-Research/BizFinBench.
Key facts. Cited by 22 papers in the map (data through 14 Oct 2026). Builds on 18 of its 29 references that are in the map. First posted on arXiv 26 May 2025.
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References · 18
- 2024The Llama 3 Herd of Modelscited by 14,715
- 2023LLaMA: Open and Efficient Foundation Language Modelscited by 14,132
- 2023Qwen Technical Reportcited by 3,344
- 2024A Survey on LLM-as-a-Judgecited by 1,423
- 2019FinBERT: Financial Sentiment Analysis with Pre-trained Language Modelscited by 385
- 2023PIXIU: A Large Language Model, Instruction Data and Evaluation Benchmark for Financecited by 222
- 2024Leave No Document Behind: Benchmarking Long-Context LLMs with Extended Multi-Doc QAcited by 122
- 2022WHEN FLUE MEETS FLANG: Benchmarks and Large Pre-trained Language Model for Financial Domaincited by 117
- 2024Revolutionizing Finance with LLMs: An Overview of Applications and Insightscited by 90
- 2023InvestLM: A Large Language Model for Investment using Financial Domain Instruction Tuningcited by 82
- 2024A Survey on Large Language Models for Critical Societal Domains: Finance, Healthcare, and Lawcited by 74
- 2023DISC-FinLLM: A Chinese Financial Large Language Model based on Multiple Experts Fine-tuningcited by 64
6 more
- 2023FinEval: A Chinese Financial Domain Knowledge Evaluation Benchmark for Large Language Modelscited by 52
- 2025DianJin-R1: Evaluating and Enhancing Financial Reasoning in Large Language Modelscited by 22
- 2024RevisEval: Improving LLM-as-a-Judge via Response-Adapted Referencescited by 20
- 2025Nexus: An Omni-Perceptive And -Interactive Model for Language, Audio, And Visioncited by 12
- 2024Baichuan4-Finance Technical Reportcited by 8
- 2023CGCE: A Chinese Generative Chat Evaluation Benchmark for General and Financial Domainscited by 7
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Citing papers per year: 2025: 10; 2026: 12.
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- 2025FinSearchComp: Towards a Realistic, Expert-Level Evaluation of Financial Search and Reasoningcited by 27
- 2025StockSim: A Dual-Mode Order-Level Simulator for Evaluating Multi-Agent LLMs in Financial Marketscited by 8
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- 2026FinResearchBench II: A Deep Research Benchmark with Consensus-Derived Gold Rubrics for Distinguishing Financial Report Qualitycited by 5
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- 2026FinFIRST: Benchmarking Search Agents for Financial Information Retrieval, Sourcing and Traceability21 Sep 2026
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- 2026Are the Financial Reasoning from LLMs Credible? A Real World Test over Long-Horizon Statements22 Jul 2026
- 2026FinResearchBench II: A Deep Research Benchmark with Consensus-Derived Gold Rubrics for Distinguishing Financial Report Quality14 Jul 2026
- 2026Absorbing Complexity: An Interaction-Native Knowledge Harness for Financial LLM Agents1 Jun 2026
- 2026FinBoardBench: Benchmarking Dynamic Wealth Management and Strategic Financial Reasoning of LLMs via Board Game Simulations27 May 2026
- 2026MBABench: Evaluating LLM Agents on End-to-End Spreadsheet Tasks in Finance21 May 2026
- 2026FinSafetyBench: Evaluating LLM Safety in Real-World Financial Scenarios1 May 2026
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- 2026FinTradeBench: A Financial Reasoning Benchmark for LLMs19 Mar 2026
- 2026EcoGym: Evaluating LLMs for Long-Horizon Plan-and-Execute in Interactive Economies10 Feb 2026
- 2026Mitigating Hallucination in Financial Retrieval-Augmented Generation via Fine-Grained Knowledge Verification5 Feb 2026
10 more
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- 2025CryptoBench: A Dynamic Benchmark for Expert-Level Evaluation of LLM Agents in Cryptocurrency29 Nov 2025
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- 2025PISA: A Pragmatic Psych-Inspired Unified Memory System for Enhanced AI Agency12 Oct 2025
- 2025StockBench: Can LLM Agents Trade Stocks Profitably In Real-world Markets?2 Oct 2025
- 2025FinSearchComp: Towards a Realistic, Expert-Level Evaluation of Financial Search and Reasoning16 Sep 2025
- 2025StockSim: A Dual-Mode Order-Level Simulator for Evaluating Multi-Agent LLMs in Financial Markets12 Jul 2025
- 2025StockBench: Can LLM Agents Trade Stocks Profitably In Real-world Markets?cited by 44
- 2025StockSim: A Dual-Mode Order-Level Simulator for Evaluating Multi-Agent LLMs in Financial Marketscited by 8
- 2025CryptoBench: A Dynamic Benchmark for Expert-Level Evaluation of LLM Agents in Cryptocurrencycited by 5
- 2026FinResearchBench II: A Deep Research Benchmark with Consensus-Derived Gold Rubrics for Distinguishing Financial Report Qualitycited by 5
- 2026MBABench: Evaluating LLM Agents on End-to-End Spreadsheet Tasks in Financecited by 4
- 2026EcoGym: Evaluating LLMs for Long-Horizon Plan-and-Execute in Interactive Economiescited by 2
- 2026LATTICE: Evaluating Decision Support Utility of Crypto Agentscited by 0
- 2026Absorbing Complexity: An Interaction-Native Knowledge Harness for Financial LLM Agentscited by 0
- 2026Mint-Agent: Introducing Finance-Native Agentic Foundation Modelscited by 0
- 2026FinFIRST: Benchmarking Search Agents for Financial Information Retrieval, Sourcing and Traceabilitycited by 0
- 2026FinFIRST: Benchmarking Search Agents for Financial Information Retrieval, Sourcing and Traceability21 Sep 2026
- 2026Mint-Agent: Introducing Finance-Native Agentic Foundation Models17 Aug 2026
- 2026FinResearchBench II: A Deep Research Benchmark with Consensus-Derived Gold Rubrics for Distinguishing Financial Report Quality14 Jul 2026
- 2026Absorbing Complexity: An Interaction-Native Knowledge Harness for Financial LLM Agents1 Jun 2026
- 2026MBABench: Evaluating LLM Agents on End-to-End Spreadsheet Tasks in Finance21 May 2026
- 2026LATTICE: Evaluating Decision Support Utility of Crypto Agents29 Apr 2026
- 2026EcoGym: Evaluating LLMs for Long-Horizon Plan-and-Execute in Interactive Economies10 Feb 2026
- 2025CryptoBench: A Dynamic Benchmark for Expert-Level Evaluation of LLM Agents in Cryptocurrency29 Nov 2025
- 2025StockBench: Can LLM Agents Trade Stocks Profitably In Real-world Markets?2 Oct 2025
- 2025StockSim: A Dual-Mode Order-Level Simulator for Evaluating Multi-Agent LLMs in Financial Markets12 Jul 2025
- 2025FinSearchComp: Towards a Realistic, Expert-Level Evaluation of Financial Search and Reasoningcited by 27
- 2026FinTradeBench: A Financial Reasoning Benchmark for LLMscited by 5
- 2025RETuning: Upgrading Inference-Time Scaling for Stock Movement Prediction with Large Language Modelscited by 1
- 2026FinBoardBench: Benchmarking Dynamic Wealth Management and Strategic Financial Reasoning of LLMs via Board Game Simulationscited by 0
- 2026Are the Financial Reasoning from LLMs Credible? A Real World Test over Long-Horizon Statementscited by 0
- 2026Are the Financial Reasoning from LLMs Credible? A Real World Test over Long-Horizon Statements22 Jul 2026
- 2026FinBoardBench: Benchmarking Dynamic Wealth Management and Strategic Financial Reasoning of LLMs via Board Game Simulations27 May 2026
- 2026FinTradeBench: A Financial Reasoning Benchmark for LLMs19 Mar 2026
- 2025RETuning: Upgrading Inference-Time Scaling for Stock Movement Prediction with Large Language Models24 Oct 2025
- 2025FinSearchComp: Towards a Realistic, Expert-Level Evaluation of Financial Search and Reasoning16 Sep 2025
- 2025PISA: A Pragmatic Psych-Inspired Unified Memory System for Enhanced AI Agencycited by 3
- 2025Market-Bench: Evaluating Large Language Models on Introductory Quantitative Trading and Market Dynamicscited by 1
- 2025Financial Instruction Following Evaluation (FIFE)cited by 0
- 2025Is GPT-OSS All You Need? Benchmarking Large Language Models for Financial Intelligence and the Surprising Efficiency Paradoxcited by 0
- 2025Market-Bench: Evaluating Large Language Models on Introductory Quantitative Trading and Market Dynamics13 Dec 2025
- 2025Is GPT-OSS All You Need? Benchmarking Large Language Models for Financial Intelligence and the Surprising Efficiency Paradox9 Dec 2025
- 2025Financial Instruction Following Evaluation (FIFE)1 Dec 2025
- 2025PISA: A Pragmatic Psych-Inspired Unified Memory System for Enhanced AI Agency12 Oct 2025
Similar, not cited
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- 2023BizBench: A Quantitative Reasoning Benchmark for Business and Finance
- 2024FinBen: A Holistic Financial Benchmark for Large Language Models
- 2025XFinBench: Benchmarking LLMs in Complex Financial Problem Solving and Reasoning
- 2026FIRE: A Comprehensive Benchmark for Financial Intelligence and Reasoning Evaluation
- 2026QuantEval: A Benchmark for Financial Quantitative Tasks in Large Language Models
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