JPMorgan Chase released a new online ad for its digital bank Finn on Wednesday. The spot focuses on Finn’s auto-saving feature, showing an aspiring photographer who is saving for a new camera. Finn is a digital bank account offered by JPMorgan as part of a strategy to attract new customers without the expense of supporting branches in new markets.
The videos are not destined for TV, according to a JPMorgan Chase spokeswoman. “These aren’t TV ads, we’re just running these online,” she told Bank Innovation. Finn’s marketing is online because its primary target customers — millennials — are also online. The bank’s launch in St. Louis, a market in which JPMorgan Chase has no branches, was also entirely online, as was the national launch in June. The bank’s brand is not emphasized in the spots but neither is it hidden.
Despite having more than 32 million mobile banking users, far and away the most in the U.S., Chase was among the first banks to release an ancillary, digital-only brand. Wells Fargo announced its offering, called Greenhouse, the previous fall. It was also released this year.
Chase released other spots this fall for the national rollout focusing on Finn’s user interface and touching on its several features, such as emojis, that distinguish it from traditional banking apps. Finn’s head Melissa Feldsher discussed Finn with Bank Innovation in late summer. Numbers for Finn have not so far been revealed, and it was not mentioned on the bank’s Oct. 12 earnings call.Like This Post