American Express 2014 Annual Report Download - page 16

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15 AMERICAN EXPRESS COMPANY | ANNUAL REPORT 2014
happens, our closed-loop network and the insights we derive from it
provide us with a major advantage.
• Millions of people around the world are underserved by today’s financial
system, and we can help many of them with products that make our
brand more welcoming and inclusive.
• Our ability to innovate, combined with our reputation for trust and
security, can help us build upon our early leadership in digital commerce.
• Through our Big Data expertise and customer knowledge, we can
transform risk management, marketing and servicing in ways that will
delight our customers.
We are realistic about our challenges, inspired by our opportunities, and
eager to tackle whatever comes next. The road map we intend to follow
is clear: grow our core business, advance our digital transformation, and
invest in new opportunities that complement our strengths.
American Express is nothing if not resourceful — a trait that we’ve
demonstrated throughout the years as we’ve transformed our business
through innovation. I have seen us go from what was essentially a one-
product, charge card-based model to having an expansive set of hundreds
of products that are segmented and tailored to customer needs. We’ve
significantly expanded our proprietary consumer business, while also
growing corporate and small business billings many times over.
With terrific people and a respected brand, we are excited to keep
innovating and evolving.
Sincerely,
Kenneth I. Chenault
Chairman & CEO
American Express Company
February 24, 2015