Figg

Figg operates as a transaction-based digital advertising platform, now functioning as the technological backbone for JPMorgan Chase's Chase Media Solutions. The company's journey began with its formation by Augeo through a merger of its nascent card-linked offers business and a more established company, Empyr. Augeo's development of the platform was also supported by key acquisitions like RewardsNOW and edō Interactive. A significant milestone occurred on July 1, 2022, when JPMorgan Chase & Co. acquired Figg from its majority owner, Augeo. This acquisition was a strategic step for Chase to build out its own two-sided commerce platform.

The firm's core business revolves around a card-linked offer (CLO) platform. This technology enables advertisers, its primary clients, to deliver targeted cash-back offers and discounts directly to consumers through their enrolled credit or debit cards. The business model serves multiple stakeholders: advertisers gain a measurable return on ad spend by reaching specific consumer segments based on purchase history, while publishers and financial institutions can use the advertiser-funded content as a tool for customer acquisition and retention. Consumers, in turn, receive savings on everyday purchases. Following its integration into JPMorgan Chase, the technology now powers Chase Media Solutions, providing brands the ability to connect with Chase's 80 million customers. This model generates revenue by capturing incremental spend from consumers, and advertisers pay only when a purchase is made, ensuring a clear return on investment.

The platform's main service is providing data-driven, card-linked marketing campaigns. It allows brands to target consumers with precision, segmenting audiences into categories such as new, lapsed, or loyal customers based on first-party financial data. This removes the need for consumers to use coupons or promo codes, as the cash-back rewards are applied seamlessly after a purchase. A key benefit for advertisers is the detailed attribution of marketing spend to actual sales, both online and in-store. For banking partners and publishers, it offers a way to enhance customer engagement and loyalty by providing valuable, personalized offers. Initial pilot campaigns for Chase Media Solutions with partners like Air Canada and Blue Bottle demonstrated success in driving incremental sales and new customer growth.

Keywords: card-linked offers, CLO platform, digital advertising, transaction data, retail media network, customer rewards, cash back, loyalty programs, financial technology, adtech, marketing attribution, consumer spending insights, merchant advertising, Chase Media Solutions, Augeo, Empyr, personalized marketing, data-driven campaigns, customer acquisition, customer retention, financial services marketing