What Upskills does

Upskills is a Singapore-headquartered global consulting firm founded in 2009 by former Murex managers, specializing in IT solutions for financial organizations and the capital markets industry. The firm operates from seven offices across Southeast Asia (Singapore, Thailand, Vietnam, Hong Kong, Malaysia), Europe (Paris), and North America (Montreal), with a team of more than 100 professionals. Its core offering is end-to-end Murex implementation, migration, upgrade, and testing services, where it holds preferred partner and certified Murex integrator status in Asia Pacific, supplemented by expertise in MxG2000, MLC, MxPress, MPC, Grid computing, and NVIDIA CUDA GPU integrations.

The company has built a productized AI layer on top of its consulting practice, anchored by a Machine Learning Lab in Paris operating since April 2019. Flagship AI products include uXtract (intelligent document processing for contracts, term sheets, and research papers), uSpread (AI-powered financial statement spreading with automatic chart of accounts mapping and NPL detection), and a Cognitive Automation platform combining ML, NLP, handwritten text recognition, and image processing. AI research is validated through peer-reviewed publications (CNER at SAC 2023, table extraction at DEXA 2022) and partnerships with A*STAR, LIP6/Sorbonne/CNRS, and SMU Computer Science Lab.

Upskills generates revenue through professional services for financial technology transformation projects, augmented by AI-as-a-Service proof-of-concept engagements and Innovation Lab co-development with banking clients. The go-to-market is enterprise field sales targeting large banks and capital market institutions, with consultants typically working on-site with clients. The firm is privately held, headquartered in Singapore, and operated as an independent entity with no disclosed institutional investors, funding rounds, or M&A activity.

Name

Upskills

Legal name

Upskills

Website

https://upskills.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

Upskills is a Singapore-headquartered consulting firm founded in 2009 that delivers Murex implementation, migration, and AI-powered financial document automation services to banks and capital market institutions across seven offices in APAC and Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Consulting and Implementation Services: Professional consulting services for financial technology transformation projects. Services include end-to-end implementation, project management, business analysis, and testing methodology. Consultants work on-site with client organizations supporting projects from planning through production rollout.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Upskills is a global consulting firm providing end-to-end IT implementation, upgrade, and migration services for the Murex platform used by capital markets institutions. The company complements its core consulting practice with proprietary AI-powered solutions including Financial Spreading (uSpread), Intelligent Document Processing (uXtract), and Cognitive Automation, delivering automated extraction of data from unstructured financial documents and statements. The company operates as a preferred Murex partner with certified integrator status in Asia Pacific.

Differentiator

Problem solved

Functional benefit

Brands

• uXtract: AI-powered intelligent document processing and data extraction platform for unstructured documents, contracts, and term sheets.
• uSpread

Products and services

• Financial Spreading (uSpread) AI-powered automation solution that extracts, identifies and analyzes key information from financial statements including Balance Sheet, Profit & Loss, Cash Flow, and tables in Notes. Features automatic chart of accounts mapping and financial analysis via sector exposure, NPL detection, and valuation. Built for banks and financial institutions performing credit, risk, and financial analysis.
• Document Processing (uXtract) Intelligent document processing platform powered by AI, ML, NLP, handwritten text recognition and image processing. Extracts key information from unstructured documents such as contracts, term sheets, specifications, research papers and market reports, converting them to structured format. Includes compliance checking, risk alerting, and multi-language support (Korean, Chinese, Japanese, Bahasa). Designed for capital markets and financial institutions.
• Cognitive Automation Intelligent automation and cognitive computing platform combining cognitive technologies with automation to process complex information and automate judgmental tasks. Includes automated financial statement understanding, reinsurance/insurance underwriting automation. Targets financial institutions and insurance companies.
• AI-as-a-Service AI project implementation service that develops innovative lab and AI ecosystems with clients, including proof of concept development for AI projects. For financial institutions seeking to build AI capabilities.
• Murex Implementation Services End-to-end Murex consulting services including greenfield implementation, extension, upgrade, and migration. Covers Mx3 platforms, MxG2000 series, MLC, MxPress solutions, MPC, Grid computing, and NVIDIA CUDA GPU solutions. Includes project management, business analysis, and testing methodology. Consultants work on-site with client organizations. For banks and capital markets institutions.
• Innovation Lab / Machine Learning Lab In-house innovation capabilities building service with Machine Learning Lab that delivers innovative solutions combining Capital Market knowledge with new technologies to create and deliver client prototypes beyond the traditional way. Includes unstructured data conversion to financial products, data migration classification, grid prediction for cloud computing, and testing framework classification.

Quantifiable outcome

• Research publication on Dynamic Named Entity Recognition (CNER) accepted to SAC 2023
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• A*STAR (Agency for Science, Technology and Research)coreStrategic or Co-development PartnerResearch partnership with Singapore's Agency for Science, Technology and Research (A*STAR) for multi-language clause extraction. A*STAR drives mission-oriented research and Upskills partners with them to advance NLP capabilities for document processing.
• LIP6 (Laboratoire d'Informatique de Paris 6)coreStrategic or Co-development PartnerPartnership with LIP6, Sorbonne University and French National Center for Scientific Research (CNRS) for contextual entity extraction algorithm development. LIP6 is a computer science research institute dedicated to modeling and resolution of fundamental problems driven by applications.
• SMU Computer Science LabcoreStrategic or Co-development PartnerPartnership with SMU Computer Science Lab for quantum computing research. Collaboration aimed at remaining ahead of emerging trends in quantum computing applied to optimization, machine learning, and natural language processing.
• MurexcoreTechnology or IntegrationPreferred Murex partner and certified Murex integrator in the Asia Pacific region. Provides solid business and technical expertise on Mx3 platforms, MxG2000 series, MLC, MxPress solutions, MPC, Grid computing, and NVIDIA CUDA GPU solutions.
• Singapore Leading Bank (Innovation Lab)coreStrategic or Co-development PartnerPartnership with a Singapore leading bank to build Innovation Lab capabilities and develop ML prototypes addressing day-to-day challenges including unstructured data processing, data migration, grid prediction, and testing frameworks.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Accenture: One of the largest global systems integrators with a deep capital markets practice and Murex delivery capability. Overlaps with Upskills on enterprise Murex migrations and large banking transformation programs.
• Wipro: Large IT services firm with a Financial Services business unit covering capital markets, risk, and compliance. Provides similar consulting and platform-implementation services to large banks.
• Capgemini: Global IT consulting giant with a dedicated Financial Services and Murex practice. Competes with Upskills on large Murex implementation and migration projects for tier-1 banks, but at significantly larger scale and broader geography.
• Mphasis: Mid-to-large IT services firm with a focus on banking, financial services, and capital markets. Competes with Upskills on transformation, application development, and cloud-modernization deals for banks.
• Tata Consultancy Services (TCS): Global IT services leader with a sizeable banking and capital markets business. Targets the same Murex and risk-platform transformation projects that Upskills services for APAC banks.
• Persistent Systems: IT services firm with a dedicated financial services practice covering capital markets, risk, and regulatory technology. Comparable to Upskills in offering banking transformation and platform engineering services.
• Infosys (Finacle / Financial Services): Global IT services firm with established capital markets and banking practice. Competes for the same large financial-services implementation and modernization mandates as Upskills, especially in APAC.

Direct peers

• GFT Technologies: Mid-sized IT consulting firm focused on financial services and capital markets, with strong Murex and digital-banking expertise. Most closely comparable to Upskills in size, vertical focus, and Murex-centric delivery model.
• Hexaware Technologies: Mid-sized IT services firm with strong banking and capital markets presence and Murex/Fenergo implementation expertise. Directly competes with Upskills for similar niche implementation engagements.
• Endor (Murex Gold Partner): Specialized Murex integration partner focused on capital markets implementations. Closest direct competitor to Upskills in Murex-specific delivery, though more concentrated in EMEA than APAC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/upskills

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Upskills