Chase has launched Chase Media Solutions, a digital media business to connect brands with the financial institution’s 80 million customers.
As the first bank-led media platform of its kind, the platform aims to combine the scale and audience of a retail media network with exclusive advantages of Chase’s first-party financial data and institutional credibility.
The firm has stated that Chase Media Solutions will serve as a channel for brands, connecting them with consumer’s personal interests, meanwhile customers will benefit from personalised offers and the ability to earn cash back.
Rich Muhlstock, President of Chase Media Solutions, commented: “Our deep understanding of consumer spending across categories has driven us to reimagine what retail media networks can offer.
“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.”
The platform’s launch follows the integration of Figg, a leading card-linked marketing platform, which JPMorgan Chase & Co. acquired in 2022. This move came as Chase prioritised efforts to build its own, two-sided commerce platform, as part of the firm’s vision to provide “win-win value” to both business clients and banking customers.
Muhlstock added: “Chase reaches across brands, merchants and shopping verticals, providing a comprehensive view of purchase behaviour; this strengthens the degree of personalization, helping brands deliver offers that stoke consumer interests.”
In an initial pilot, Chase Media Solutions designed 30-day campaigns for Air Canada, Solo Stove, Blue Bottle and Whataburger, in which the brands reported seeing significant traction in driving incremental sales and new customer growth.
Scott O’Leary, Vice President of Loyalty and Product for Air Canada, said: “The Chase team succeeded in creating a thoughtful, targeted offer that exceeded our expectations. Two distinct offer constructs drove incremental revenue and awareness for Air Canada amongst Chase’s cardmember base.
“These tests clearly demonstrated the potential of the Chase Media Solutions channel, and we look forward to working together more in the future.”
Earlier this year, Chase worked to put its customers first by becoming the official banking partner of all UK home nations football teams, aiming to drive positive societal change through providing individuals across the UK from low income backgrounds with the opportunity to access fully-funded coaching qualifications.
