American Express Launches New Cash Flow Management Hub, Expanding Its Powerful Backing for Small Businesses
Express Business Blueprint™ provides free cash flow insights and 24/7 access to a suite of digital financial products—all from one place
American Express (NYSE: AXP) announced the launch of American Express Business Blueprint™, the company’s new digital cash flow management hub designed exclusively for small businesses, which features cash flow insights, digital financial products, and an easy way to reach and manage their Business Cards.
Business Blueprint builds on the Kabbage platform, which was acquired in 2020, as part of American Express’ strategy to expand its small business offerings beyond its leading Business Cards. Any U.S. small business may access, for free, personalized cash flow insights to help them make financial decisions more confidently. Small businesses may also access applications for select financial products, like a business line of credit, and use the products, if approved, to help them more efficiently manage their cash flow from the Business Blueprint hub.1
“Business Blueprint marks a critical next step in American Express’s vision of becoming a digital one-stop shop for small businesses’ financial needs, whether to manage their cash flow, make payments, get paid, or access working capital,” said Anna Marrs, Group President of Global Commercial Services and Credit & Fraud Risk at American Express. “Kabbage is now fully integrated into the suite of American Express business products, providing business owners a wide range of digital financial solutions to help them manage their finances efficiently and confidently.”
American Express has a long track record of supporting small businesses through innovative products and services to meet our customers’ ever-changing needs, from being the number one Business Card issuer in the U.S.2 to a leading financial services provider for businesses of all sizes globally.
According to a new American Express survey, polling 1,100 small businesses, 82% of respondents said a cash flow management hub would save them time to run their business, leading to improved efficiency (72%) and profitability (50%).3 American Express Business Blueprint™ is designed to pair products with the daily tasks small business owners engage in to help them manage their cash flow, from taking a loan, to paying bills and vendors, sending wires, checking their account balances, making mobile check deposits, accepting card payments and more.
“My perception of American Express has greatly expanded from a card company to a true partner that offers products that help me with the tasks needed to run my business,” said Julie Matzen, an American Express customer and CEO of Team MayDay, a digital advertising agency. “With American Express Business Blueprint, I save so much time from having to log in to different products and tools, but instead can access my American Express Business Cards, line of credit, and data from one place.”
An embedded feature within American Express Business Blueprint™ is My Insights, a free cash flow analytics solution, providing small businesses personalized, 24/7 data analysis of many of their American Express business products4—including their American Express Business Cards—and linked external business-bank accounts. My Insights will automatically aggregate the data across these products and linked accounts to show:
- Money-in and money-out cash flow analyses
- Expense trends and detailed spending per account
- Up to two-years of historical transactional data
- 30-day cash-balance projections5
- Expense alerts, notifying customers of increased spend
“Historically, small businesses have been underserved when it comes to smart, simple financial management tools. No longer. A few financial institutions are reinventing small business banking and delivering needed tools. American Express Business Blueprint is raising the bar in helping small businesses manage their cash flow from one place,” said Alenka Grealish, Principal Analyst, Emerging Tech at Celent.
Also, from American Express Business Blueprint™ small businesses can learn about and then, if eligible, apply for select digital products, including1:
- American Express® Business Line of Credit for flexible business loans.
- American Express® Business Checking * for a digital business checking account with a 1.30% APY on balances up to $500,000, and the ability to earn Membership Rewards® points.6
- American Express® Payment Accept 7 for accepting all major card payments from customers online.
American Express customers can reach their American Express Business Card accounts from their Business Blueprint dashboard to make payments and view and redeem Membership Rewards points®. Plus, they can enjoy access to American Express’s world-class customer service and support, always a call or click away.
Signing up for American Express Business Blueprint™ is free. Existing American Express business customers may use their American Express login to start today either online or via the American Express Business Blueprint™ Android or iOS app. Learn more at www.americanexpress.com/business-blueprint.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products, services and corporate responsibility information: personal cards, business cards and services, travel services, gift cards, prepaid cards, merchant services, Accertify, Business Blueprint, Resy, corporate card, business travel, diversity and inclusion, corporate responsibility and Environmental, Social, and Governance reports.
1 All American Express business products are subject to separate eligibility, applications, approvals, and fee structures.
2Based on a comparison of: (i) data for U.S. Mastercard & Visa Commercial Card Issuers Ranked by Purchase Volume in 2021 from the Nilson Report (p. 6, Issue 1220, May 2022); and (ii) American Express internal data.
3 Survey conducted in partnership with Morning Consult, polling 1,100 financial decision makers, including 500 at a small small business (<10 employees), 400 at a medium small business (11-100 employees), and 200 at a large small business (101-500 employees). The margin of error for the full sample is +/- 3 percentage points.
4 American Express® Business Checking data will be available in Q1 2023.
5 Cash-balance projections available for business checking customers in Q1 2023.
6 Terms and Conditions for the Membership Rewards® program apply. Visit www.membershiprewards.com/terms for more information. The value of Membership Rewards points varies according to how you choose to use them. To learn more, go to www.membershiprewards.com/pointsinfo
7 Kabbage Payments, LLC is a registered Payment Service Provider/Payment Facilitator sponsored by Fifth Third Bank, N.A., Cincinnati, OH.
*Currently accepting applications for American Express Business Checking from U.S. American Express Consumer or Business Card Members.
Source: American Express