The firm’s new business insights arm will provide clients with data-driven insights focused on specific customer segments, which Amex said will help clients develop customised marketing and growth strategies.

Consulting services to be offered include identifying consumer spending trends, new product innovation, geographic expansion, customer acquisition and retention, improving marketing and advertising strategies and customer relationship management.

Bill Glenn (pictured), Amex’s president of global merchant services, will lead the new venture. He said: “Our ability to interpret trend patterns across the American Express global network represents an unprecedented reserve of competitive insights for business that are fighting hard every day to improve their offerings and reach their customers more effectively.”