Last year, JPMorgan Chase launched an ad business that allows marketers to target ads using the bank giant’s data.
Dubbed Chase Media Solutions, the ad product lets brands promote Chase Offers, targeted discounts related to Chase customers’ spending habits, that appear on its app and website. Advertisers only pay for such ads if the customer uses the Chase Offers deal to make a purchase.
The infrastructure behind Chase’s ad business stems from the company’s 2022 acquisition of marketing platform Figg.
Since then, Chase has been working to scale its ad platform to compete against other commerce media networks. In 2024, Chase powered 18 billion offers equivalent to $12 billion in customer spend—a 31% year-over-year increase, according to the company. Chase’s ad platform also had 800 million monthly views from its 71 million digital banking users.
Chase declined to say how much the company makes from its advertising business.
The bank is one of many companies across sectors that have started commerce media businesses over the past year in hopes of cashing in on the retail media boom. PayPal, American Express, Uber, and Lyft have also started selling ads that promise advertisers precise targeting and measurement using first-party data. Emarketer expects advertisers to spend $62 billion in the space this year.
IRL promotions
This year, Chase hopes to make Chase Offers more personalized to customers, Rich Muhlstock, president of Chase Media Solutions, told ADWEEK. Because Chase owns its own platform, it can control the relevancy of ads users see, he said. For example, someone who regularly shops at Nordstrom could be served deals for similar fashion brands.
Muhlstock said that Chase plans to more heavily promote Chase Offers beyond its digital banking properties in its 4,700 physical banks, more than 15,00 ATMs, and via emails.