Financial institutions like JPMorgan Chase and PayPal are leveraging their extensive transaction data to enter the advertising market, mimicking retail ad networks.
PayPal plans to launch a new ad platform, while Chase has started selling ads on its app and website, offering personalized deals based on card transaction history. Klarna, already a pioneer in this area, introduced its Ads Manager tool last year. This move comes as privacy laws tighten and third-party cookies phase out, making first-party data increasingly valuable. With financial media network ad spending expected to grow rapidly, banks are transforming customer data into a profitable new venture.