Beyond Semantic Similarity: A Two-Phase Non-Parametric Retrieval Workflow for Corporate Credit Underwriting
Authors: Linus Ng Junjia, Ezekiel Tee Kongquan, Kelvin Heng et al.
Summary
arXiv:2605. 20684v1 Announce Type: new Abstract: Corporate credit underwriting requires analysts to extract actionable evidence from long, heterogeneous financial documents spanning hundreds of pages and multiple languages.
Relevance
Read next because Beyond Semantic Similarity: A Two-Phase Non-Parametric Retrieval Workflow for Corporate Credit Underwriting overlaps with clean result "LoRA persona trained on alone emits at 23.5% when a co-trained partner learns ..., vs 0% control on Qwen2.5-7B-Instruct (MODERATE confidence)", clean result "Leakage rate is a usable signal for recovering trigger-shaped phrases on Gaperon-1125-1B without knowing the hidden trigger itself (MODERATE confidence)", clean result "Language-mismatch LoRA SFT on Qwen2.5-7B leaks the trained completion language into bystander directives the model was never trained on, absent under same-language SFT (LOW confidence)". Matching terms: text, under, eval, line, rate, extraction, control, candidates. Source: arxiv cs.CL (NLP).
Abstract
arXiv:2605.20684v1 Announce Type: new Abstract: Corporate credit underwriting requires analysts to extract actionable evidence from long, heterogeneous financial documents spanning hundreds of pages and multiple languages. Standard Retrieval-Augmented Generation (RAG) pipelines optimize for semantic similarity, which frequently surfaces passages that are topically related but lack decision utility, a problem we term the similarity-utility gap. We propose a two-phase non-parametric retrieval architecture that separates high-recall candidate retrieval from high-precision utility ranking. The first phase combines lexical and dense multilingual retrieval to construct a broad candidate pool. The second phase applies an adaptive retrieval controller that filters candidates using query intent and document structure signals, followed by an LLM-as-a-Judge utility scoring mechanism that ranks passages by analytical usefulness rather than semantic proximity. A context-aware extraction module preserves structural fidelity across narrative text and complex financial tables. The system is deployed entirely on-premise to satisfy enterprise data governance requirements. Evaluated on a multilingual corpus of proprietary financial documents with analyst-curated relevance labels, the system significantly outperforms naive retrieval baselines. In production deployment across more than 800 credit analysts, document review time was reduced from several hours to approximately three minutes, demonstrating the practical value of utility-aware RAG architectures for document-intensive decision-support workflows.