JPMorgan Chase launches digital media business

FILE PHOTO: JP Morgan Chase & Co. corporate headquarters in New York

(Reuters) - JPMorgan Chase on Wednesday launched a new digital media business that would allow advertisers to target the Wall Street bank's 80 million customers based on their spending data.

The new platform called Chase Media Solutions will combine the scale of a retail media network with Chase-owned transaction data that will help brands to precisely target customers, the company said.

The launch of the media business comes two years after JPMorgan acquired card-linking marketing platform Figg.

Chase Media said it has designed 30-day campaigns for its initial pilot partners including specialty coffee roaster Blue Bottle Coffee, fast food restaurant chain Whataburger, and budget airline Air Canada.

The largest U.S. bank by assets is set to report its first-quarter results on April 12.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shailesh Kuber)