American Express is a globally integrated payments company offering products, insights, and experiences to consumers, small businesses, mid-sized companies, and large corporations. A key aspect of their business is providing credit and charge cards, enabling purchases at millions of merchants worldwide. They also offer third-party card issuing services. American Express operates an integrated payments platform, connecting participants and providing differentiated value. They maintain direct relationships with both Card Members and merchants, giving them unique data insights at both ends of the transaction. This data is used to underwrite risk, reduce fraud, and offer targeted marketing and information services. American Express utilizes technology for faster product introduction and differentiation, along with enhanced customer service.

• Employees: 74,600 (as of December 31, 2023)
• Geographic Footprint: Operates in approximately 110 countries and territories.
• Headquarters: 200 Vesey Street, New York, New York 10285
• Founded: 1850
• Number of locations/facilities: Information not provided in 10K.
• Revenue: $60.5 billion (FY2023)
• Market Capitalization: $128.1 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: American Express Travel Related Services Company, Inc. (TRS), American Express National Bank (AENB)

• CEO & Chairman: Stephen J. Squeri
• CFO: Christophe Y. Le Caillec
• Vice Chairman: Douglas E. Buckminster
• Vice Chairman: Jeffrey C. Campbell
• President, U.S. Consumer Services: Howard Grosfield
• Chief Colleague Experience Officer: Monique Herena
• Group President, Global Merchant and Network Services: Raymond Joabar
• President, International Card Services: Rafael Marquez
• Group President, Commercial Services and Credit & Fraud Risk: Anna Marrs
• Chief Partner Officer: Glenda McNeal
• Chief Risk Officer: David Nigro
• President, Global Services Group: Denise Pickett
• Chief Information Officer: Ravi Radhakrishnan
• Chief Marketing Officer: Elizabeth Rutledge
• Chief Legal Officer: Laureen E. Seeger
• Chief Corporate Affairs Officer: Jennifer Skyler
• Group President, Enterprise Services: André Williams

• Annual Revenue: $60.5 billion (FY2023)
• Net Income: $8.4 billion (FY2023)
• Market Cap: $128.1 billion (as of June 30, 2023)
• Total Assets: $261.1 billion (FY2023)
• Number of employees: 74,600 (as of December 31, 2023)
• Key Financial Highlights (FY2023):
  • 9% increase in billed business
  • 14% increase in total revenues net of interest expense
  • 33% increase in net interest income
  • 13% increase in Card Member loans and receivables

American Express offers a range of financial and travel-related products and services. These include:

• Credit and charge cards for consumers, small businesses, mid-sized companies, and large corporations.
• Merchant acquisition and processing services.
• Network services, enabling card acceptance globally.
• Fraud prevention services.
• Customer loyalty programs (e.g., Membership Rewards).
• Expense management products and services.
• Travel and lifestyle services.
• Banking and non-card financing products.

American Express has four reportable operating segments:

• U.S. Consumer Services (USCS): Focuses on U.S. consumers, offering a range of cards and services including travel, lifestyle, banking, and non-card financing.
• Commercial Services (CS): Serves U.S. businesses with cards, payment and expense management, banking, and non-card financing. Also serves select global corporate clients.
• International Card Services (ICS): Offers cards and services to customers outside the U.S., including travel and lifestyle services, and manages international joint ventures and loyalty coalitions.
• Global Merchant and Network Services (GMNS): Operates a global payments network, acquires merchants, provides marketing programs and data analytics, and manages network partnerships.

American Express focuses on four strategic imperatives:

• Expanding leadership in the premium consumer space through enhanced benefits, partnerships, and experiences.
• Strengthening their position in commercial payments by evolving card value propositions and developing innovative products.
• Reinforcing their global network by expanding merchant acceptance and providing value-added services.
• Leveraging their global position to support these initiatives.

They also prioritize Environmental, Social, and Governance (ESG) goals focused on building financial confidence, advancing climate solutions, and promoting diversity, equity, and inclusion.

American Express operates in the highly competitive global payments industry. Key competitors include card networks (Visa, Mastercard, China UnionPay, JCB, Discover, Diners Club International), issuers, acquirers, traditional payment methods (cash, checks), and emerging digital payment solutions (Alipay, PayPal, Venmo). Competition is driven by factors such as product features, rewards programs, customer service, digital offerings, merchant acceptance, and the development of innovative technologies.

• Economic Conditions: Performance is sensitive to economic downturns, impacting consumer and business spending, particularly in travel and entertainment.
• Competition: Intense competition from established and emerging players in the payments industry, including those with greater resources and innovative offerings.
• Partner Relationships: Reliance on partners, especially co-brand partners like Delta, creates risk if those relationships are lost or renegotiated.
• Cybersecurity and Fraud: Vulnerable to data breaches and fraud, which could damage reputation, lead to financial losses, and regulatory scrutiny.
• Regulation: Subject to evolving and complex regulations globally, impacting operations, costs, and market access.