American Express (Amex) has launched Amex Advance personalisation service that uses machine learning techniques to deliver services.
The data driven service will enables companies across the advertising, travel and service industries to customise target audiences, personalise customer experiences and measure marketing effectiveness.
The platform analyses American Express closed-loop transaction data along with partner data and the available consumer data to predict the buying behaviours of target audience in US.
American Express said that data will be anonymised and encrypted in a secure platform. To protect the privacy of card members and partners’ customers, the platform is hosted by an independent third-party, Acxiom.
The Amex Advance interactive portal partners can access predictive insights, request customised audiences and analyse future audience performance.
The current partners include a select group of publishers, advertising networks and marketing audience providers, such as Viacom, Wiland, and Acxiom Audience Solutions.
Amex Advance vice president and general manager Marc Ginsberg said: “American Express’ understanding of the shopping behaviours leading up to everyday and significant life moments can help us predict a consumer’s intent to purchase a broad range of products and services. At a time when companies are searching to make more data-driven decisions, Amex Advance’s predictive machine learning, deep consumer insights and platform capabilities deliver precise marketing customisation.”
American Express president global credit risk & information management Ash Gupta added: “American Express’ closed-loop data allows us to analyze a large volume of real spending that can help marketers across a range of industries connect with customers and provide unique value.
“Partners will be able to access these insights, and leverage the power of American Express’ predictive data science, combined with their own, in a self-service capacity and at scale through the Amex Advance platform.”