American Express (Amex) – Digital Transformation Strategies
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American Express Digital Transformation Strategies Report Overview
American Express is leveraging emerging technologies as a part of its digital transformation strategies. The annual ICT spending of American Express was estimated at $2.4 billion in 2023. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. American Express (Amex) 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 corporations. The company conducts merchant acquisition and processing, payment settlement, and point-of-sale (POS) marketing, and network services. Its travel solutions include personal and corporate travel advisory, hotel and resort booking, and travel management.
Total ICT Spending 2023 | $2.4 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Blockchain, Cloud, Big Data, and Payments |
The American Express digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
Amex 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 enhance operational speed and performance. The company collects customer data and combines it with third-party data to deliver personalized customer service through its AI-enabled Amex Bot. Amex is tapping the power of AI, machine learning (ML), and advanced analytics to create a frictionless and seamless customer experience and has implemented ML models in collaboration with Microsoft in its due diligence and fraud-detection processes for online retailers.
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American Express Technology Theme Focus
American Express is utilizing several emerging technologies including artificial intelligence, blockchain, cloud, big data, and payments to enhance operational efficiency and product offerings.
American Express Technology Focus
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American Express Technology Initiatives
American Express has been involved in several strategic technology partnerships and collaborations, technology developments, and rollouts over the past few years. For instance, Amex expanded its collaboration with Microsoft to develop a suite of solutions built on Microsoft Cloud and AI technologies focused on reducing business travel friction for employees and businesses. The solution developed under this collaboration aims to enhance the expense management process by addressing some of the challenges business travelers face. Using AI and ML technologies, the solution will enhance clients’ existing processes and tools by simplifying and automating manual expense reporting and approvals, improving audit efficiency, and streamlining reconciliation and reimbursements for accounting teams.
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American Express ICT Spend by Function
- Communications
- Datacenter
- Network
- Application
- End-user computing
- Service desk
- Management
American Express ICT Spend by Function, 2023 (%)
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American Express ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
American Express ICT Spend by Channel, 2023 (%)
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American Express External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
American Express External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into American Express’s technology activities.
- Insights into its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into American Express’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of American Express in 2023?
The annual ICT spending of American Express was estimated at $2.4 billion in 2023.
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Which is the leading ICT spending category by function for American Express?
Network is the leading ICT spending category by function for American Express in 2023.
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Which is the leading ICT spending category by channel for American Express?
Internal development and maintenance is the leading ICT spending category by channel for American Express in 2023.
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Which is the leading ICT spending category by segment for American Express?
Software (including cloud SaaS) is the leading ICT spending category by segment for American Express in 2023.
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What are the key technology themes in focus for American Express?
The key technological themes in focus for American Express are artificial intelligence, big data, blockchain, cloud, and payments.
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