Chase Bank: Difference between revisions
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}}'''[[wikipedia:Chase_Bank|Chase Bank]]''' is one of the leading financial services providers in the United States, as indicated by the following quote. <blockquote>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. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone.<ref name=":0"> | }}'''[[wikipedia:Chase_Bank|Chase Bank]]''' is one of the leading financial services providers in the United States, as indicated by the following quote. <blockquote>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. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone.<ref name=":0">{{Cite web |date=3 Apr 2024 |title=Chase Launches Chase Media Solutions, a New Digital Media Business, Connecting 80 Million U.S. Consumers with the Brands They Love |url=https://media.chase.com/news/chase-launches-chase-media-solutions |url-status=live |archive-url=https://web.archive.org/web/20250129165337/https://media.chase.com/news/chase-launches-chase-media-solutions |archive-date=29 Jan 2025 |website=Chase Bank}} </ref></blockquote> | ||
=Chase Media Solutions incident= | =Chase Media Solutions incident= | ||
Following the acquisition of ''Figg'', a card-linked marketing platform<ref> | Following the acquisition of ''Figg'', a card-linked marketing platform<ref>{{Cite web |title=figg is now Chase Media Solutions |url=https://www.gofigg.com/ |url-status=live |archive-url=https://web.archive.org/web/20241203061445/https://www.gofigg.com/ |archive-date=2024-12-03}}</ref> in 2022, Chase launched "Chase Media Solutions" on April 3, 2024. This platform was marketed as a new digital media business that would provide brands with direct access to Chase's 80 million customers. The service was sold to investors as a new frontier of advertising, based on claims that partner companies would have the ability to use Chase's first-party transaction data to target deals and advertisements to customers based on their purchase history.<ref name=":0" /> | ||
===Implementation=== | ===Implementation=== | ||
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===Pilot program results=== | ===Pilot program results=== | ||
To test the service, Chase collaborated with several major brands: | To test the service, Chase collaborated with several major brands: | ||
*Air Canada<ref> | *Air Canada<ref>{{Cite web |date=3 Apr 2024 |title=Air Canada partnership: Air Canada’s ticket sales take flight |url=https://www.chase.com/mediasolutions/resources/aircanada |website=Chase Media Solutions}}</ref> | ||
*Solo Stove<ref> | *Solo Stove<ref>{{Cite web |date=3 Apr 2024 |title=Solo Stove partnership: Solo Stove fires up sales with Chase customers |url=https://www.chase.com/mediasolutions/resources/solostove |website=Chase Media Solutions}}</ref> | ||
*Blue Bottle<ref> | *Blue Bottle<ref>{{Cite web |date=7 Jun 2024 |title=Blue Bottle partnership: Serving up higher AOV at Blue Bottle Coffee |url=https://www.chase.com/mediasolutions/resources/bluebottlecoffee |website=Chase Media Solutions}}</ref> | ||
*Whataburger<ref> | *Whataburger<ref>{{Cite web |date=17 Jun 2024 |title=Whataburger partnership: What a month at Whataburger |url=https://www.chase.com/mediasolutions/resources/whataburger |website=Chase Media Solutions}}</ref> | ||
During the initial pilot, Air Canada reported significant success, with their campaign exceeding expectations through two offer structures that drove considerable revenue and awareness among Chase cardmembers.<ref> | During the initial pilot, Air Canada reported significant success, with their campaign exceeding expectations through two offer structures that drove considerable revenue and awareness among Chase cardmembers.<ref>{{Cite web |last=Kan |first=Michael |date=4 Apr 2024 |title=Chase Bank to Let Advertisers Target Customers Based on Spending Habits |url=https://www.pcmag.com/news/chase-bank-to-let-advertisers-target-customers-based-on-spending-habits |url-status=live |archive-url=https://web.archive.org/web/20250129165726/https://www.pcmag.com/news/chase-bank-to-let-advertisers-target-customers-based-on-spending-habits |archive-date=29 Jan 2025 |website=PC Magazine}}</ref> | ||
===Chase's defense=== | ===Chase's defense=== | ||
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*Critics argue that this represents a violation of consumer privacy and highlights the bank's lack of transparency. | *Critics argue that this represents a violation of consumer privacy and highlights the bank's lack of transparency. | ||
*Social media responses reflect widespread customer discomfort with the program. | *Social media responses reflect widespread customer discomfort with the program. | ||
*Users are questioning whether their banking data should be leveraged for advertising purposes.<ref name=":1"> | *Users are questioning whether their banking data should be leveraged for advertising purposes.<ref name=":1">{{Cite web |title=CHASED AWAY ‘Can we opt out?’ beg Chase customers as bank makes major change targeting 80 million Americans with new ads |url=https://www.the-sun.com/money/10998718/chase-bank-media-solutions-brand-advertising-purchase-data/ |url-status=live |archive-url=https://web.archive.org/web/20250129165927/https://www.the-sun.com/money/10998718/chase-bank-media-solutions-brand-advertising-purchase-data/ |archive-date=29 Jan 2025 |website=The U.S. Sun}}</ref> | ||
==Broader implications== | ==Broader implications== | ||
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<references /> | <references /> | ||
[[Category:Chase Bank]] | [[Category:Chase Bank]] | ||
[[Category:Data | [[Category:Data collection]] | ||
[[Category:Articles based on videos]] | [[Category:Articles based on videos]] | ||