JPMorgan Chase to sell financial data of 80,000,000 customers as trillion-dollar bank launches media platform

JPMorgan Chase is launching a new business that will allow marketers and advertisers to target customers based on spending data.
To achieve this, the banking giant will provide the company with data collected from 80 million customers.

The new venture, called Chase Media Solutions, aims to be “a key conduit connecting brands with consumers’ personal passions and interests.”
Rich Muhlstock, president of the new company, says:
“Like any retailer, we have first-party data and a passionate audience. But what sets us apart is our unparalleled scale and insight into our customers. It has long served as a trusted guide to financial decisions. Chase provides a comprehensive view of purchasing behavior across a variety of brands, merchants, and shopping verticals. This enhances the level of personalization, helping brands deliver offers that spark consumer interest.”
The new company could use transaction data owned by Chase to allow brands and agencies to “precisely target customers at scale based on their purchase history,” including new, existing or loyal customers.
According to a press release, Chase has run pilot programs with several large companies, including Air Canada, Solo Stove, Blue Bottle and Whataburger, all of which have achieved “significant traction” and customer success. showed new growth.
This new venture began in 2022 with JPMorgan Chase & Co.’s acquisition of Figg, a card-connected marketing platform.
Chase said the new company is a natural step toward its vision of providing “win-win value” to business and banking customers.
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