JPMorgan Chase is set to launch a groundbreaking initiative that will enable marketers and advertisers to target consumers based on their spending habits. This will be made possible through the utilization of data collected from the banking giant’s impressive customer base of 80 million individuals. The project, known as Chase Media Solutions, aims to serve as a vital link between brands and consumers, allowing for a more personalized advertising experience.

The president of Chase Media Solutions, Rich Muhlstock, explains the unique advantage of their approach, stating, “Similar to retailers, we possess first-party data and a dedicated audience. However, what sets us apart is the unparalleled scale and insights we gain from our customers, as we have long been a trusted advisor in their financial decision-making process. Chase spans across various brands, merchants, and shopping sectors, providing a comprehensive understanding of consumer purchasing behavior. This, in turn, enhances the level of personalization, enabling brands to deliver offers that genuinely ignite consumer interest.”

By leveraging the transaction data, which Chase claims ownership of, the new venture can enable brands and agencies to precisely target customers based on their purchase history. This includes reaching out to new, lapsed, or loyal customers on a large scale. Chase recently conducted a pilot program with several prominent corporations, such as Air Canada, Solo Stove, Blue Bottle, and Whataburger. The results were highly encouraging, as these companies reported significant growth in customer numbers.

The genesis of this innovative endeavor can be traced back to JPMorgan Chase & Co.’s acquisition of Figg, a card-linked marketing platform, in 2022. Chase views this new company as a natural progression towards its goal of delivering mutually beneficial value to its business clients and banking customers.

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