American Express Launches Amex Advance℠ Personalization Services to Companies Across the Advertising, Travel & Service Indu...
November 07 2017 - 9:00AM
Business Wire
New platform harnesses American Express’
predictive machine learning capabilities and spending insights to
help companies grow their businesses
American Express (NYSE:AXP) today announced the launch of Amex
Advance, which harnesses industry-leading machine learning
techniques to deliver personalization services that help marketers
customize target audiences, personalize customer experiences and
measure their own marketing effectiveness.
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the full release here:
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The Amex Advance platform allows for the secure analysis of
American Express closed-loop1 transaction data alongside partner
data and publicly available consumer data in order to develop
insights about the future buying behaviors of a desired audience
within the U.S. population.
The American Express closed-loop network analyzes more than $1
trillion in Card Member purchases annually. For years, insights
from these analyses have been the foundation for personalizing
internal and third-party marketing programs for millions of
American Express® Card Members around the world. These analyses are
now being extrapolated to a much broader consumer base that goes
beyond American Express Card Members. Amex Advance and its partners
will use these insights to deliver advertising to more narrowly
targeted audience segments and personalized recommendations.
Through the Amex Advance interactive portal partners can access
predictive insights, request highly customized audiences and
analyze projected audience performance. Partners currently include
a select group of publishers, advertising networks and marketing
audience providers, such as Viacom, Wiland, and Acxiom Audience
Solutions.
“American Express’ understanding of the shopping behaviors
leading up to everyday and significant life moments can help us
predict a consumer’s intent to purchase a broad range of products
and services,” said Marc Ginsberg, vice president and general
manager, Amex Advance. “At a time when companies are searching to
make more data-driven decisions, Amex Advance’s predictive machine
learning, deep consumer insights and platform capabilities deliver
precise marketing customization.”
Unlike the many off-the-shelf options in market, Amex Advance
will produce customized audience services for each company based on
their unique marketing goals. Current Amex Advance products can
help partners with:
- Identifying and anticipating consumer
spending trends across brands, categories, interests and life
events
- Marketing and advertising strategies
for targeting across digital, television, and direct marketing
channels
- Customer acquisition, upgrade, and
retention campaigns
- Measurement of real spend outcomes
- Customized insights and audience
analytics tailored to specific brands via its self-service Amex
Advance platform
All data, including American Express and partner data, will be
anonymized and encrypted in a secure platform. To further preserve
the privacy of its Card Members and partners’ customers, the
platform is hosted by an independent third-party, Acxiom, so the
data can be analyzed in a segmented environment.
Using predictive machine learning algorithms, Amex Advance
analyzes these data sets to produce insights about the future
buying behaviors of the partner’s desired audience.
From these insights, Amex Advance and its partners can create
enhanced audience targets with the highest intent to purchase. An
example would be a pet store brand looking to find consumers who
are most likely to get a dog during the upcoming holiday season.
Instead of targeting a consumer audience who they know already
shops at their stores, Amex Advance could help them reach new
consumers based Amex Advance’s anonymized insights into the buying
habits of consumers prior to pet ownership. Amex Advance insights
could show that U.S. consumers that spent more on landscape
services, summer camps and bicycle shops are the most likely to get
a pet in the next three months. The end result is an Amex Advance
audience target for the partner’s advertising campaign.
All Card Member data is anonymized and aggregated prior to being
used to develop the insights that drive Amex Advance services. Card
Members’ transactions and interactions with American Express, as
well as information that identifies them personally or as a Card
Member, will always remain de-identified.
“American Express’ closed-loop data allows us to analyze a large
volume of real spending that can help marketers across a range of
industries connect with customers and provide unique value,” said
Ash Gupta, president, Global Credit Risk & Information
Management, American Express. “Partners will be able to access
these insights, and leverage the power of American Express’
predictive data science, combined with their own, in a self-service
capacity and at scale through the Amex Advance platform.”
About Amex Advance
Amex Advance is a data-driven business that partners with
companies across the advertising, travel and service industries to
deliver curated personalization services optimized for their
customers. Leveraging best-in-class predictive machine learning,
deep consumer insights, connectivity capabilities and an integrated
platform, Amex Advance transforms its deterministic data insights
into customized solutions to solve partners’ key business
challenges. For more information, visit
americanexpress.com/amexadvance.
1American Express serves as a Card issuer and a merchant
acquirer, and maintains direct relationships with Card Members and
merchants. This enables the company to operate a closed-loop
network and provide marketing programs to merchants and special
offers and services to Card Members. This model differentiates the
company from the competition and allows access to payment
transactions from both the Card Member and the merchant
perspective.
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American ExpressAshley Tufts,
212-640-3193ashley.tufts@aexp.com
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