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AmEx (AXP) Launches Center to Solidify Footprint in Singapore
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American Express Company (AXP - Free Report) recently inaugurated a Decision Science Center of Excellence (CoE) in Singapore. The center will leverage artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) to extend global data-driven solutions.
The areas of interest of the newly established center will be on data science applications in the fields of credit and fraud risk model development and production. Going forward, American Express intends to bolster the capability of the center and engage in intensive research for other AI, ML and NLP technology use case development.
The latest move can be termed as a growth-related investment for American Express. It will allow the company to cater to its global Card Members from its Singapore base. AXP has always remained steadfast in effectively serving its Card Members, ranging from launching new card offerings to integrating lucrative features within the existing ones.
The center will also bring in employment opportunities for the country’s residents since recruitment drive for suitable candidates have already commenced.
AXP’s efforts to strengthen its footprint as a leading technology provider across Singapore is clearly reflected through the recent center launch. Undoubtedly, the Asian country seems to attract overseas investors like the integrated payment company American Express.
As Singapore boasts the reputation of being one of the top-class worldwide financial and technology hubs, AXP’s investment seems to be prudent. Also, considering the growing digital economy that the country continues to witness, the move of American Express to extend advanced technology solutions is aptly timed as well.
A solid digital suite built through several collaborations with renowned financial service providers and substantial investments is expected to position AXP well in tapping promising opportunities amid the flourishing digital industry of Singapore. Concurrently, the new center will also equip American Express to address intricate headwinds often encountered by the digital space.
Shares of AXP have lost 5.8% year to date compared with the industry’s decline of 21.5%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
American Express currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Finance space are Arrow Financial Corporation (AROW - Free Report) , Capital Bancorp, Inc. (CBNK - Free Report) and First Reliance Bancshares, Inc. (FSRL - Free Report) . While Arrow Financial sports a Zacks Rank #1 (Strong Buy) currently, Capital Bancorp and First Reliance Bancshares carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arrow Financial’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average being 2.08%. The Zacks Consensus Estimate for AROW’s 2022 earnings suggests an improvement of 0.3% from the year-ago reported figure.
The Zacks Consensus Estimate for revenues suggests growth of 5.3% from the year-ago reported figure. The Zacks Consensus Estimate for AROW’s 2022 earnings has moved 4.5% north in the past 60 days. The Arrow Financial stock has lost 1.6% year to date.
Capital Bancorp’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.73%. The Zacks Consensus Estimate for CBNK’s 2022 earnings suggests an improvement of 11% from the year-ago reported figure.
The Zacks Consensus Estimate for revenues suggests growth of 4% from the year-ago reported figure. The Zacks Consensus Estimate for CBNK’s 2022 earnings has moved 5.9% north in the past 60 days. Shares of Capital Bancorp have lost 7.3% year to date.
First Reliance Bancshares’ earnings outpaced the Zacks Consensus Estimate in two of the last four quarters, matched once and missed once, the average being 9.31%. The Zacks Consensus Estimate for FSRL’s 2022 earnings suggests an improvement of 18.5% from the year-ago reported figure.
The Zacks Consensus Estimate for revenues suggests growth of 0.5% from the year-ago actuals. The Zacks Consensus Estimate for FSRL’s 2022 earnings has moved 13.2% north in the past 60 days. Shares of First Reliance Bancshares have lost 10.3% year to date.
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AmEx (AXP) Launches Center to Solidify Footprint in Singapore
American Express Company (AXP - Free Report) recently inaugurated a Decision Science Center of Excellence (CoE) in Singapore. The center will leverage artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) to extend global data-driven solutions.
The areas of interest of the newly established center will be on data science applications in the fields of credit and fraud risk model development and production. Going forward, American Express intends to bolster the capability of the center and engage in intensive research for other AI, ML and NLP technology use case development.
The latest move can be termed as a growth-related investment for American Express. It will allow the company to cater to its global Card Members from its Singapore base. AXP has always remained steadfast in effectively serving its Card Members, ranging from launching new card offerings to integrating lucrative features within the existing ones.
The center will also bring in employment opportunities for the country’s residents since recruitment drive for suitable candidates have already commenced.
AXP’s efforts to strengthen its footprint as a leading technology provider across Singapore is clearly reflected through the recent center launch. Undoubtedly, the Asian country seems to attract overseas investors like the integrated payment company American Express.
As Singapore boasts the reputation of being one of the top-class worldwide financial and technology hubs, AXP’s investment seems to be prudent. Also, considering the growing digital economy that the country continues to witness, the move of American Express to extend advanced technology solutions is aptly timed as well.
A solid digital suite built through several collaborations with renowned financial service providers and substantial investments is expected to position AXP well in tapping promising opportunities amid the flourishing digital industry of Singapore. Concurrently, the new center will also equip American Express to address intricate headwinds often encountered by the digital space.
Shares of AXP have lost 5.8% year to date compared with the industry’s decline of 21.5%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
American Express currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Finance space are Arrow Financial Corporation (AROW - Free Report) , Capital Bancorp, Inc. (CBNK - Free Report) and First Reliance Bancshares, Inc. (FSRL - Free Report) . While Arrow Financial sports a Zacks Rank #1 (Strong Buy) currently, Capital Bancorp and First Reliance Bancshares carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arrow Financial’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average being 2.08%. The Zacks Consensus Estimate for AROW’s 2022 earnings suggests an improvement of 0.3% from the year-ago reported figure.
The Zacks Consensus Estimate for revenues suggests growth of 5.3% from the year-ago reported figure. The Zacks Consensus Estimate for AROW’s 2022 earnings has moved 4.5% north in the past 60 days. The Arrow Financial stock has lost 1.6% year to date.
Capital Bancorp’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.73%. The Zacks Consensus Estimate for CBNK’s 2022 earnings suggests an improvement of 11% from the year-ago reported figure.
The Zacks Consensus Estimate for revenues suggests growth of 4% from the year-ago reported figure. The Zacks Consensus Estimate for CBNK’s 2022 earnings has moved 5.9% north in the past 60 days. Shares of Capital Bancorp have lost 7.3% year to date.
First Reliance Bancshares’ earnings outpaced the Zacks Consensus Estimate in two of the last four quarters, matched once and missed once, the average being 9.31%. The Zacks Consensus Estimate for FSRL’s 2022 earnings suggests an improvement of 18.5% from the year-ago reported figure.
The Zacks Consensus Estimate for revenues suggests growth of 0.5% from the year-ago actuals. The Zacks Consensus Estimate for FSRL’s 2022 earnings has moved 13.2% north in the past 60 days. Shares of First Reliance Bancshares have lost 10.3% year to date.