Future of American Express
CATEGORIES
- Asset Performance
- Innovation assets and pipeline
- Disruption vulnerability
- Company headlines
- Company’s future prospects
DATA ACCESS
The American Express Company, commonly known as Amex, is a US financial services corporation conducting operations internationally. Its headquarters is in Three World Financial Center in New York City. The company was established in 1850 and is one of the thirty components of the Dow Jones Industrial Average. The company is popular for its traveler's check, charge card, and credit card businesses.
Innovation assets and Pipeline
All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page.
DISRUPTION VULNERABILITY
Belonging to the financial sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:
*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees. AI systems will also be used heavily by companies like American Express for transaction processing and fraud protection.
*Blockchain technology will be co-opted and integrated into the established banking system, significantly reducing transaction costs and automating complex contract agreements.
*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.