Multilingual pretrained language models (MPLMs) have demonstrated substantial performance improvements in zero-shot cross-lingual transfer across various natural language understanding tasks by finetuning MPLMs on task-specific labelled data of a source language (e.g. English) and evaluating on a wide range of target languages. Recent studies show that prompt-based finetuning surpasses regular finetuning in few-shot scenarios. However, the exploration of prompt-based learning in multilingual tasks remains limited. In this study, we propose the ProFiT pipeline to investigate the cross-lingual capabilities of Prompt-based Finetuning. We conduct comprehensive experiments on diverse cross-lingual language understanding tasks (sentiment classification, paraphrase identification, and natural language inference) and empirically analyze the variation trends of prompt-based finetuning performance in cross-lingual transfer across different few-shot and full-data settings. Our results reveal the effectiveness and versatility of prompt-based finetuning in cross-lingual language understanding. Our findings indicate that prompt-based finetuning outperforms vanilla finetuning in full-data scenarios and exhibits greater advantages in few-shot scenarios, with different performance patterns dependent on task types. Additionally, we analyze underlying factors such as language similarity and pretraining data size that impact the cross-lingual performance of prompt-based finetuning. Overall, our work provides valuable insights into the cross-lingual prowess of prompt-based finetuning.

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