American Express 2013 Annual Report Download - page 15

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Over the past few years, we showed that we could weather a financial
crisis and then grow in a stubbornly weak post-recession economy.
Looking ahead, we aim to produce consistent growth over the long term.
We don’t have any special insights into where the economy is headed.
There were some relatively encouraging signs as we entered 2014, but
time will tell. With our financial strength and the flexibility built into our
business model, I believe we are in a good position to benefit when the
economy does improve.
Beyond economic uncertainty, we face many challenges. We need to
stay ahead of intense competition in the payments industry from both
traditional and potentially disruptive challengers. We have to adapt to
an evolving regulatory landscape. And we must continue to demonstrate
the value that we provide to cost-conscious merchants.
I like our prospects. Our trusted brand sets us apart in an industry not
known for trust. The direct relationships we have with many millions
of consumers and merchants—and our closed-loop network that
connects them—put us at the heart of the commerce chain. Our world-
class service infrastructure earns us precious customer loyalty.
Every day, we work hard to take these advantages to a higher level.
Advanced data analytics, creative digital strategies, and flexible
payments and commerce technologies—combined with our good,
old-fashioned service ethic—are helping us get better and better at
matching the right customers with the right value propositions at the
right moments.
We want to lead in the digital age; to drive commerce; to provide
meaningful value to customers around the world; and to continue
to be a great place to work.
This is only the beginning.
Sincerely,
KENNETH I. CHENAULT
Chairman & CEO
American Express Company
February 25, 2014
WHAT’S NEXT
AMERICAN EXPRESS COMPANY
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