American Express SWOT Analysis 2024 – American financial corporation

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SWOT Analysis Of American Express analyzes, American Express is an American multinational corporation with its headquarters in New York and is involved in the field of providing financial services. American Express is one of the leading card issuers in the United States.

It’s known for its top-notch customer service and some of the best rewards available. From ultra-elite business travel cards to everyday rewards, American Express has credit cards that are a good choice for many different types of cardholders. Ever since issuing its first charge card, American Express has been a master at creating “premium” credit card products and recruiting the most affluent customers.

In fact, the affluent and desirable customer base is a big reason why American Express can charge merchants higher swipe fees than Visa or MasterCard.

Did you know?

In 1995. Gardiner, an Australian costume designer, used real, American Express expired cards to create her dress. At the award ceremony, she won the Best Costume Design, Oscar.

American Express was formed in 1850 as an express mail business after three express mail companies combined: Wells & Company, owned by Henry Wells. Livingston, Fargo & Company, owned by William Fargo. Wells, Butterfield & Company, owned by John Warren Butterfield.

On March 18, 1850, American Express Company came into being after a bruising fight. After Butterfield blocked American Express from participating in the California gold rush that began in 1848, Wells, Fargo & Co. came into being on March 18, 1852, to handle the Pacific Coast and ultimately all business in the Far West.

This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by American Express.

American Express At A Glance – American Express SWOT Analysis

Company: American Financial Corporation
Founders: William Fargo | Henry Wells | John Butterfield
Year of establishment: 18 March 1850, Buffalo, New York, United States
CEO: Stephen Squeri
Headquarters: New York, New York, United States
Employees (Dec 2020): 63,700
Ticker Symbol: AXP
Type: Public
Annual Revenue (Dec 2020): US$36.09 Billion
Profit net income (Dec 2020): US$3.14 Billion

Products & Services: Savings accounts | Money market funds | Mutual funds | Money + and Money + personal accounts | Tax advantaged investments | Multi- currency accounts | ATM cards | Investment management accounts

Company Website:

Top American Express Competitors 

Competitors: Mastercard | Discover Financial Services | JPMorgan Chase & Co. | Capital One Financial | Bank of America | Visa | Barclaycard | Citibank

American Express SWOT Analysis – SWOT Analysis Of American Express

SWOT Analysis Of American Express analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With American Express SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about American Express SWOT Analysis. Below Is The Detailed SWOT Analysis Of American Express.

American Express Strengths – American Express SWOT Analysis

1. The Brand’s Strength: Brand Strength American Express, also called as AMEX is a great choice due to being among the most sought-after brands in the world. In 2016 it is ranked most ranked Brand worldwide. The trustworthiness it has created for itself allows it to get a huge reaction to its new initiatives.

2. Strength of Employees: The company employs more than 60,000 employees, and the levels of satisfaction are very high. An energized, happy and diverse workforce makes the perfect work environment.

3. Market Capital: American Express has a market capital of 60 billion, making it one of the biggest companies in the world in the field in financial service.

4. Credit Card Schemes: The global popularity and recognition ensure that American Express a trusted brand. Its partnership with with various organizations to offer loyalty programs as well as credit card schemes. This makes it the most well-known choice across the globe.

5. Worldwide use: One of the main benefits for American express is its reputation as the most secure credit card that can be used for international travel.

6. Status symbol: American express is a status symbol, and is available only to wealthy people and those who have access to an opportunity to use the card. There are many who do not get the advantages of owning credit card. Naturally , in wealthy circles, the possession of the American express card is an immediate sign of the wealth.

American Express Weaknesses – American Express SWOT Analysis

1. Commercial Traveller’s Cheque: The traveller’s check service that is part of American Express is sharply declining and is in need to be renewed.

2. Insufficient Debit Cards: Another issue is the absence of American Express debit cards. Although American Express credit cards are popular however debit cards are not. The ability to fill this gap can be beneficial for a company.

3. Insufficient other other products: The product line of American express is centered around one or two major products. The addition of other financial products are offered by American express as well as the implementation of cross-selling can help AMEX greatly.

American Express Opportunities – American Express SWOT Analysis

1. Expansion: There’s a huge scope for expanding the market in the case of American Express. American Express doesn’t have a strong international presence, but it is to be competitive in international market.

2. Innovative schemes: Another possibility that could be a good fit for American Express is the innovativeness of the schemes being offered to draw in more customers.

3. A rise in the usage of debit card: The increase in the use of debit cards within emerging countries can be a lucrative opportunity. Emerging economies are home to a large number of people who use debit cards as debit cards are commonly used frequently for cash withdrawals and this is a great opportunity for American Express

4. Utilizing the financial branding equity Equity in the brand of: American Express is an internationally well-known name in the world of finance. It is able to leverage the equity it has in the form of offering more financial services and growing its own turnover, too.

American Express Threats – American Express SWOT Analysis

1. Rivals: Although American Express is a leader in its field of operations however, it’s far from being the sole one. There are many big ocean fish which are eager to grab markets share. In the race to stay ahead of competitors, it isn’t easy and is a risk.

2. The nature of business: In addition, the nature of the business American Express is in poses danger to it. Its volatile financial situations and financial uncertainty cause the system to be vulnerable to fail. Government regulations can also put restrictions on many things and making sure that the business is profitable is a major challenge.

3. Competitors: The competitors of HTML0 are Visa as well as Mastercard are the two main rivals against American Express and are also extremely popular names.

4. Bad debts: Evidently, with the kind of customers American express is able to serve the bad debts do not pose an issue that poses a significant risk. If the fish is huge and the losses are huge as well. Naturally the single bad debt can be massive size for American express.

This is the SWOT report that American Express has done. Please let us know if you have additional suggestions to add.

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