AMERICAN EXPRESS
TECHNOLOGY
78 email to a customer who hasn ’ t visited a store recently and advertising a new product similar to one they ’ ve previously ordered in a bid to re-engage them with the company .
AMERICAN EXPRESS
US-based bank American Express is leveraging Big Data to track customer behaviour . With more than 110mn American Express cards in operation and over 1trn transactions processed , the bank handles around 25 % of US credit card activity . As is the case with all other fintech banks , cybersecurity is considered the main priority and , as a result , American Express has positioned data analytics and ML at the heart of the company ’ s strategy to combat this . The firm has deployed a ML model that combines a variety of different data sources , such as card membership information , spending details and merchant information , to detect suspicious events in order for a decision to be made in milliseconds and prevent fraud . American Express seeks to connect cardholders to prod-
FEBRUARY 2020