AmEx launches new tool set for SMEs
American Express is set to release two new initiatives that will benefit SMEs, including a Twitter tool.
The unit will harness transaction data for its 90 million cardholders, informing them of marketing decisions and larger strategic issues.
American Express Business Insights will focus on its customised business insights through its analytics and consulting arms. The company already offers data to its partner merchants, however this new model aims to go deeper into its database to widen its offering.
Bill Glenn, president of global merchant services at AmEx, pointed to the company’s level of detail when it comes to the data it possesses.
“Other companies are doing lifestyle segmentation and modeling, but were doing modelling off of transaction-level data,” explained Glenn.
This news comes as the well-known credit company announced the launch of a twitter tool that will allow SMEs to receive advice and participate in forum discussions to share their experiences.
Dubbed ‘Pulse’ the tool was developed to educate and bring together the SME community, and will feature numerous financial and business experts dispensing their advice.