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Chase launches advertising platform that taps customer spending data

Chase launches advertising platform that taps customer spending data

JPMorgan Chase has launched a digital media business that lets advertisers use transaction data to target the bank's 80 million customers.

Chase Media Solutions promises brands the scale and audience of a retail media network combined with the giant bank's first-party financial data. Meanwhile, customers benefit from personalised offers and the ability to earn cash back.

The platform arrives two years after JPMorgan Chase acquired card-linked marketing firm Figg.

The bank says that pilot campaigns involving Air Canada, Solo Stove, Blue Bottle and Whataburger, found "significant traction" in driving incremental sales and new customers growth.

Rich Muhlstock, president, Chase Media Solutions, says: “Our deep understanding of consumer spending across categories has driven us to reimagine what retail media networks can offer.

“Like retailers, we have first-party data and a dedicated audience. But what sets us apart is the unrivaled scale and insights from our customers - having long-served as a trusted guide for their financial decisions."

Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 04 April, 2024, 12:161 like 1 like

Last I checked, Cardlytics claimed that 2000 banks and financial institutions used its platform to make targeted offers to their customers off of their spend data. That didn't stop finsurgents from claiming that Financial Institutions Are Missing Out on Personalisation. Hopefully, the entry of the largest bank in USA will stop them stop them from making such claims going forward.

Atul Mehra
Atul Mehra - Vaayushop - Pune 09 April, 2024, 08:19Be the first to give this comment the thumbs up 0 likes

AI for personalization is superpower. though JP Morga claims that investing billions of dollars is their moat - thr are 10s of ways to build with minimal data & investment to all the way to very extensive systems.

We have built similar capabilities in much less budget to enable banks, corporates to have their custom solution.