Earlier this month, JPMorgan Chase & Co announced the launch of it's Chase Media Solutions.
Chase Media Solutions allows advertisers to ability to connect directly with it's parent financial institution’s 80 million customers. It will serve as a key conduit for brands, connecting them with consumers’ personal passions and interests (data). In turn, Chase customers benefit from personalised offers and the ability to earn cash back with brands they love or are discovering for the first time.
The launch of Chase Media Solutions follows the integration of Figg, a leading card-linked marketing platform. JPMorgan Chase & Co. acquired Figg in 2022 in Chase’s effort to build out its owned, two-sided commerce platform, and as part of the firm's vision to bring win-win value to both business clients and banking customers.
“Our deep understanding of consumer spending across categories has driven us to reimagine what retail media networks can offer,” said Rich Muhlstock, President of Chase Media Solutions.
“Like retailers, we have first-party data and a dedicated audience. But what sets us apart is the unrivalled scale and insights from our customers – having long-served as a trusted guide for their financial decisions. Chase reaches across brands, merchants and shopping verticals, providing a comprehensive view of purchase behaviour; this strengthens the degree of personalisation, helping brands deliver offers that stoke consumer interests.”
Platform advantages are outlined on their website as:
First-party data: With Chase’s owned transaction data, brands and agencies can precisely target customers at scale based on purchase history (such as targeting new, lapsed or loyal customers) .
Better ROI and attribution: Brands capture incremental spend on everyday purchases both in-store and online with clear attribution for every media dollar spent.
Trust and brand safety: The platform is built on the foundational trust and institutional credibility of Chase, including a verified audience and brand-safe owned channels.
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing.
An interesting play by the US financial institution, and with the accelerated growth of retail media, we may be seeing the start of another industry opening it's doors to advertisers. How will this play out in the Australian market, will be watching with open eyes and ears.
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