JPMorgan Chase & Co. (NYSE: JPM) Chase launched a new digital media business, Chase Media Solution, which will aid the brands in connecting directly with the financial institution's 80 million customers.
Chase Media Solutions serves as a key conduit for brands, connecting them with consumers' personal passions and interests.
The new platform will combine the scale of a retail media network with Chase-owned transaction data to help brands target customers precisely.
Chase Media Solutions follows the integration of Figg, which was acquired in 2022.
Rich Muhlstock, President of Chase Media Solutions, 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."
Investors can gain exposure to the stock via iShares U.S. Financial Services ETF (NYSE: IYG) and iShares U.S. Financial ETF (NYSE: IYF).
Price Action: JPM shares are down 0.12% at $198.62 on the last check Wednesday.