Chase Bank is entering the realm of targeted advertising by leveraging its customers' spending data to offer personalized deals. Following the acquisition of Figg in 2022, this move places Chase among companies like Best Buy and Uber, which monetize customer data through targeted ads.
Recent developments, as The Wall Street Journal reported, reveal that Chase Bank is entering the realm of targeted advertising by leveraging its customers' spending data to offer personalized deals. Following the acquisition of Figg in 2022, this move places Chase among companies like Best Buy and Uber, which monetize customer data through targeted ads.
While these strategies may offer a new revenue stream and marketing precision in the face of declining third-party cookies and increased privacy regulations, they also raise significant concerns about the use and commodification of private data.
Our approach at Global Data Resources, however, offers a more optimistic outlook, prioritizing the privacy and rights of individuals while still providing effective targeting solutions.
Implications for Privacy
At Global Data Resources, we are critical of these practices.
Banks and resellers' utilization of private data, even with so-called “informed consent,” for online targeting signifies a troubling path toward the commercialization of personal information.
These actions question the sanctity of consumer consent and the broader implications for privacy and trust in the digital age.
Ethical Advocates
Our unwavering belief at Global Data Resources is in prioritizing the privacy and rights of individuals in the digital ecosystem.
We advocate strongly for a more ethical and transparent approach to data usage, ensuring our customers and partners are aligned with these values.
Please reach out to GDR CDO Ulrik Larsen to hear more.