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JPMorgan Chase To Sell Financial Data of 80,000,000 Clients As Bank Launches Media Platform

As reported by The Daily Hodl, JPMorgan Chase is set to launch a new business that will enable advertisers and marketers to target customers based on their spending data. The company will offer firms access to data from its 80 million clients to precisely target customers at scale based on purchase history. This new venture, named Chase Media Solutions, aims to connect brands with consumers’ personal passions and interests. 

Rich Muhlstock, the president of the new firm, said, “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. Chase reaches across brands, merchants, and shopping verticals, providing a comprehensive view of purchase behavior; this strengthens the degree of personalization, helping brands deliver offers that stoke consumer interests.”

The company has already run a pilot program with several large corporations, including Air Canada, Solo Stove, Blue Bottle, and Whataburger, which have all seen “significant traction” and new growth in customers.

Chase says the new company is a natural step towards its vision to bring “win-win value” to its business clients and banking customers. It uses transaction data – which Chase says it owns – to allow brands and agencies to target new, lapsed or loyal customers. The new venture is a result of JPMorgan Chase & Co.’s acquisition of Figg, a card-linked marketing platform, in 2022.

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