23
+12%
17,646 $m
Financial Services
American Express may have been founded in 1850, but this hasn’t stopped the credit card company from finding fresh ways to build relevance and anticipate future needs for its consumer and business clients. Amex has continued to invest in meaningful social and digital experiences, including partnering with Twitter to enable cardholders to make purchases with a hashtag. As part of its digital and mobile commitment, the brand has made strategic investments in upgrading its technology platforms and realigning operations to improve productivity and service quality, while building capabilities for the future. These investments are already helping drive higher average spend and growth in its cardmember base. The iconic brand also continued addressing the needs of small business owners via its OPEN platform. Its third annual Small Business Saturday last November saw a record turnout, while OPEN is now helping women entrepreneurs better compete for government contracts via the ChallengeHER partnership with the US Small Business Administration. Amex has downsized its Corporate Travel division while bringing in new customers with its first prepaid card, Bluebird, in partnership with Walmart. In the midst of these successes, Amex’s reputation took a hit when it was fined in October for violating consumer protection laws. Despite this setback, Amex strives to live up to its mission to be “the world’s most respected service brand,” and has been recognized as J.D. Powers’ top US credit card company since 2007.