If you';re tired of censorship and dystopian threats against civil liberties‚ subscribe to Reclaim The Net.The largest US bank‚ and the worlds largest by capitalization‚ JP Morgan Chase‚ is going forward with another way to monetize their clients by giving access to their spending data to be used for targeted ads.One would have thought that something of the kind was already in full swing. But given the glacial speed at which giant financial institutions move when it comes to introducing any new features‚ its perhaps not entirely surprising that only now‚ Chase is allowing businesses to make ad money directly off of the data belonging by the banks 80 million customers.To make this possible‚ a platform called Chase Media Solutions is now available to brands who want to utilize transaction data the bank harvests from customers‚ to fine tune campaigns‚ such as personalized offers and incentives.Customers of massive banks are now apparently treated as no more than a commodity otherwise why would Chase feel confident in marketing its platform as an at scale solution for brands. According to reports‚ that would be about six million small businesses‚ also the banks clients.It doesnt help matters that the financial institutions pitch to businesses says that the differentiating factor between just any bank‚ and a behemoth like Chase is the unrivaled scale and insights from our customers having long-served as a trusted guide for their financial decisions.The first part of the statement is difficult‚ if not impossible to argue against but what about the latter? What happens to that trust once clients realize their data is being re-monetized in this particular way?After all‚ everybody loves the experience of being targeted by ads based on their personal information. /sOn top of that‚ it might hit a little different when its coming from YouTube‚ etc. as opposed to your bank.Still‚ Chase is‚ pun intended‚ banking on the appeal of it all‚ and all this is not happening haphazardly. Two years ago JPMorgan Chase &;amp; Co. bought and integrated Figg‚ which is said to be a leading card-linked marketing platform.Meanwhile‚ whats known as retail media is an industry now valued at $61 billion‚ and projected to grow 10% per year over the next two years.So its clear whats in it for Chase‚ and its business clients. Not so clear‚ though‚ how ordinary ad-targeted clients benefit.The post JP Morgan Chase Cashes in on Customer Data appeared first on Reclaim The Net.