JPMorgan Chase enters the media industry and plans to sell customer data from 80 million accounts

In order to facilitate targeted advertising and customized brand engagements, JPMorgan Chase has introduced Chase Media Solutions, which makes use of client data from 80 million accounts.

JPMorgan Chase is launching a new initiative that will let advertisers track people based on their buying habits. The banking behemoth will share the data it gathers with other businesses, including its 80 million clients. Chase Media Solutions is launching this project with the goal of connecting companies with customers via shared interests and hobbies.

Rich Muhlstock, the initiative’s leader, says, “Just like stores, we have first-party data and a committed audience. However, our unparalleled size and insights from clients are what really distinguish us. We have been a reliable resource for their financial choices for a long time. By connecting brands, retailers, and shopping verticals, Chase provides a holistic picture of consumer spending habits, which in turn increases the level of personalization and enables businesses to provide offers that pique consumers’ interests.”

Chase claims ownership of the newly created company’s transactional data, which it intends to exploit. Brands and marketing agencies may use this data to zero in on new, returning, or loyal consumers based on their spending habits.

According to a news release, Chase began his pilot career with many major companies, including Air Canada, Blue Bottle, Whataburger, Solo Stove, and Solo Stove. It is believed that these businesses had exceptional success in acquiring and activating customers. This move follows JPMorgan Chase & Co.’s 2022 acquisition of Figg, a platform that specializes in card-linked marketing.

According to Chase, this decision aligns with their objective of providing beneficial advantages to both their business clients and bank customers.

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