American Express - Enterprise Tech Ecosystem Series

American Express is a provider of card products and travel-related services. It offers a range of credit cards, charge cards and other payment and financing solutions to individuals, small and middle businesses and corporates. The company conducts merchant acquisition and processing, payment settlement and point-of-sale marketing and network services. Its travel solutions include personal and corporate travel advisory, hotel and resort booking and travel management. Amex also offers foreign exchange services, travel insurance and traveler’s cheques. The company operates through various channels, including direct mail, online applications, in-house teams, direct response advertising and third-party vendors across the Americas, Europe, Africa, the Middle East, and Asia Pacific.

In 2020, American Express launched the Data Analytics, Risk, and Technology Lab, in collaboration with IIT Madras in India, which acts as a hub for research around risk analytics and behavioral sciences by leveraging technologies related to artificial intelligence and machine learning.

American Express Middle East launched ACCELERATE ME in Bahrain in October 2018. The program was launched in partnership with Nest Ventures to deliver innovative digital solutions for customers and partners in the region.

This report provides insight into American Express’ fintech activities, including its digital transformation strategies, innovation programs, technology initiatives, estimated ICT budget, and major ICT contracts.

Scope

• American Express is tapping the power of data and analytics to enhance its capabilities and achieve growth in payments and commerce. The company has migrated its legacy processes to private and public cloud and big data environments to address challenges faced during the coronavirus (COVID-19) pandemic and to enhance operational speed and performance.
• American Express is expanding its digital partnership with various technology players to develop innovative digital features, solutions, and services for its customers. In 2021, for instance, Amex partnered with McAfee for cybersecurity technology, Tink for open banking technology, Sniip for payments technology, and Better.com and ODX for digital lending solutions.
• American Express delivers innovative customer interaction methods, allowing card holders to be serviced through their preferred digital channels. The company has set up APIs, self-service tools, and the necessary infrastructure to meet the evolving needs of users. American Express is expanding into the European market through its open banking payment initiation service, Pay with Bank.

Reasons to Buy

• Gain insights into American Express’ tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various product launches, partnerships, investments, and acquisition strategies.