# FinDebate: Multi-Agent Collaborative Intelligence for Financial Analysis

arXiv: https://arxiv.org/abs/2509.17395 · HTML: https://mlsanity.com/paper/2509.17395/

## Key facts

- Cited by 4 papers in the map (data through 14 Oct 2026).
- Placed in Legal and financial RAG, one of 15 directions in Retrieval-augmented generation.
- Builds on 8 of its 19 references that are in the map.
- First posted on arXiv 22 Sep 2025.

## Placed in

- Retrieval-augmented generation / [Legal and financial RAG](https://mlsanity.com/rag/legal-and-financial-rag/)
- LLM agents and tool use / [Financial trading and forecasting agents](https://mlsanity.com/agents/financial-trading-and-forecasting-agents/)

## Builds on (most cited first, 8 of 8)

- [Improving Factuality and Reasoning in Language Models through Multiagent Debate](https://mlsanity.com/paper/2305.14325/) (2023)
- [Encouraging Divergent Thinking in Large Language Models through Multi-Agent Debate](https://mlsanity.com/paper/2305.19118/) (2023)
- [Late Chunking: Contextual Chunk Embeddings Using Long-Context Embedding Models](https://mlsanity.com/paper/2409.04701/) (2024)
- [ECTSum: A New Benchmark Dataset For Bullet Point Summarization of Long Earnings Call Transcripts](https://mlsanity.com/paper/2210.12467/) (2022)
- [Towards Detecting LLMs Hallucination via Markov Chain-based Multi-agent Debate Framework](https://mlsanity.com/paper/2406.03075/) (2024)
- [StoryWriter: A Multi-Agent Framework for Long Story Generation](https://mlsanity.com/paper/2506.16445/) (2025)
- [Template-Based Financial Report Generation in Agentic and Decomposed Information Retrieval](https://mlsanity.com/paper/2504.14233/) (2025)
- [Language Modeling for the Future of Finance: A Survey into Metrics, Tasks, and Data Opportunities](https://mlsanity.com/paper/2504.07274/) (2025)

## Built on by (most cited first, 4 of 4)

- [SoK: Security of Autonomous LLM Agents in Agentic Commerce](https://mlsanity.com/paper/2604.15367/) (2026)
- [Emergent Bias and Fairness in Multi-Agent Decision Systems](https://mlsanity.com/paper/2512.16433/) (2025)
- [CLAIR-Fin: An Adversarial Multi-Agent Framework for Claim-Level Verification and Adaptive Debate in Cross-Modal Financial QA](https://mlsanity.com/paper/2608.13706/) (2026)
- [FINSKILLOPS: A Self-Evolving Multi-Agent System for SEC Filing QA](https://mlsanity.com/paper/2609.19680/) (2026)

## Abstract (arXiv)

We introduce FinDebate, a multi-agent framework for financial analysis, integrating collaborative debate with domain-specific Retrieval-Augmented Generation (RAG). Five specialized agents, covering earnings, market, sentiment, valuation, and risk, run in parallel to synthesize evidence into multi-dimensional insights. To mitigate overconfidence and improve reliability, we introduce a safe debate protocol that enables agents to challenge and refine initial conclusions while preserving coherent recommendations. Experimental results, based on both LLM-based and human evaluations, demonstrate the framework's efficacy in producing high-quality analysis with calibrated confidence levels and actionable investment strategies across multiple time horizons.