New Social Network Media.com to Champion Online Consumer Protection as Australian Banking Association's Annual Conference Sponsor
According to the Australian government's 2024 National Anti-Scam Centre Report, 'the most reported contact method leading to financial loss was social media,' and more Australians lost money via social media in 2024 than the year prior. These social platforms - where fake identities, bots, and anonymity reign - have become the primary vehicle for scammers targeting consumers and banks alike. However, Media.com offers a credible, secure social networking experience where every user is verified before they can join the network, create content or connect with others. This simple, powerful safeguard drastically reduces the risk of scams, impersonation, and misinformation - protecting users all while stabilizing the financial ecosystem.
'Becoming a sponsor of the ABA's flagship event was a strategic priority for us given the challenges the banking industry is facing from the misuse of social networks to target consumers,' said James Mawhinney, Media.com founder and CEO. 'The ABA and its members have shown great leadership by prioritizing consumer protection, a mission that closely mirrors that of Media.com's which aims to restore public trust in online information and support the banking sector's immediate need for solutions that protect consumers from harm. This is why we've integrated the same best in class user verification technology on our network that banks use worldwide to verify customers, as we know the solution begins with accountability and transparency – two of the principles embedded in Media.com's DNA.'
A Critical Call to Action
By supporting the adoption of a verified network like Media.com, banks can help shield consumers from the social media-driven scams eroding trust and impacting financial stability. Banks can:
Create verified profiles on Media.com to provide a safer digital touchpoint for customers
Promote Media.com to their customers as a safe and trusted alternative to traditional social networks
Lead a movement toward digital accountability and trust in Australia's online banking landscape
'A stable, trusted banking environment is critical for the future of Australia,' said Mawhinney. 'We've built the infrastructure for safer online engagement—one that not only protects consumers, but also helps reduce fraud, improve trust, and ultimately protect their bottom line. This isn't about competing with social media—it's about replacing what's broken with something better.'
This year's ABA conference focuses on the difficulties and opportunities ahead for financial services, including consumer protection, regulatory shifts, sustainable finance, risk management, and the sector's broader digital transformation. Media.com's participation underscores its commitment to helping industries like banking embrace technologies that uphold user trust and safeguard information. Knowing how important consumer protection is, Media.com's commitment to trust, transparency, and innovation aligns with the values that underpin Australia's banking sector.
Launched in Beta in late 2024, Media.com is transforming social networking by verifying every user, ensuring all content is traceable to its source. This approach fosters a safer, more accountable digital space—free from fake profiles, bots, and misinformation—designed for people and businesses seeking meaningful, credible engagement online. With attendance from banking CEOs, regulators, and global thought leaders, the ABA conference offers Media.com a unique opportunity to demonstrate its impact, engage with decision-makers, and align with the collective vision for a stronger, more trusted digital future.
About Media.comMedia.com is a next-generation online social network designed for people who value trusted content and verified engagement. On the Media.com network, all user profiles are verified, which means every piece of content is traceable to its source, so users are accountable for their online engagement which boosts trust and credibility while reducing the risks of online harms. Media.com houses the best features of existing social networks all in one place, combining the best of each and empowering users to post, host and share their content from a trusted source. Media.com empowers users to showcase their personal or business brand using a Media Wall feature comprised of visual tiles and folders the user has control over to organize, categorize and manage their content in a highly visually impactful format. Media.com operates with a 'freemium' business model – free for individuals to join, set up a verified profile and post content through its Basic Plan. For businesses, organizations, associations and charities, Media.com offers affordable profile creation and publishing tools. By requiring identity verification, its all-in-one platform empowers users to create, host, and distribute content across text, video, audio, and more—safely and authentically. Headquartered in New York City, Media.com is currently in Beta and growing a global user base across 130+ countries.
Find & Follow:Web | LinkedIn | Facebook | Instagram | X | YouTube | TikTok
Press Contact:For media inquiries or to book a product demo, please contact Laura Hall at Lhall@media.com or via WhatsApp at +1 917 544 6344 (New York, New York).This press release was published by a CLEAR® Verified individual.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
We Think INOVIQ (ASX:IIQ) Can Afford To Drive Business Growth
We can readily understand why investors are attracted to unprofitable companies. For example, although made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt. So should INOVIQ (ASX:IIQ) shareholders be worried about its cash burn? For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. Let's start with an examination of the business' cash, relative to its cash burn. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. How Long Is INOVIQ's Cash Runway? You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at December 2024, INOVIQ had cash of AU$9.5m and no debt. Looking at the last year, the company burnt through AU$4.7m. That means it had a cash runway of about 2.0 years as of December 2024. Arguably, that's a prudent and sensible length of runway to have. You can see how its cash balance has changed over time in the image below. View our latest analysis for INOVIQ How Well Is INOVIQ Growing? On balance, we think it's mildly positive that INOVIQ trimmed its cash burn by 17% over the last twelve months. But the revenue dip of 17% in the same period was a bit concerning. In light of the data above, we're fairly sanguine about the business growth trajectory. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years. How Easily Can INOVIQ Raise Cash? Even though it seems like INOVIQ is developing its business nicely, we still like to consider how easily it could raise more money to accelerate growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn. Since it has a market capitalisation of AU$44m, INOVIQ's AU$4.7m in cash burn equates to about 11% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution. So, Should We Worry About INOVIQ's Cash Burn? Even though its falling revenue makes us a little nervous, we are compelled to mention that we thought INOVIQ's cash runway was relatively promising. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about INOVIQ's situation. Taking a deeper dive, we've spotted 5 warning signs for INOVIQ you should be aware of, and 1 of them makes us a bit uncomfortable. Of course INOVIQ may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Benchmark Co. Reiterated a Buy Rating on Dave Inc (DAVE)
Dave Inc. (NASDAQ:DAVE) is one of the . On July 14, Mark Palmer of Benchmark Co. reiterated a Buy rating on Dave Inc. (NASDAQ:DAVE) with a price target of $320. The company's stock price dropped by 20.60% over the past month after JPMorgan Chase said it would charge data aggregators like Plaid for bank data access. Palmer believes that this drop was an overreaction as these changes will not impact the company's profit margins even if Plaid passes the cost to Dave Inc. (NASDAQ:DAVE). A customer using the personal financial management tool to navigate their finances. Palmer also highlighted that the company has changed its method of making money from ExtraCash advances and has moved to a mandatory fee. This move has increased the average revenue per user, and despite the increased fee, the demand has stayed strong. The analyst finds the current stock price attractively valued as the company is cheaper than other fintech names in the market. Dave Inc. (NASDAQ:DAVE) is a fintech company that offers mobile-first banking services designed to help underserved consumers manage their money. While we acknowledge the potential of DAVE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
an hour ago
- Yahoo
We Think INOVIQ (ASX:IIQ) Can Afford To Drive Business Growth
We can readily understand why investors are attracted to unprofitable companies. For example, although made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt. So should INOVIQ (ASX:IIQ) shareholders be worried about its cash burn? For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. Let's start with an examination of the business' cash, relative to its cash burn. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. How Long Is INOVIQ's Cash Runway? You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at December 2024, INOVIQ had cash of AU$9.5m and no debt. Looking at the last year, the company burnt through AU$4.7m. That means it had a cash runway of about 2.0 years as of December 2024. Arguably, that's a prudent and sensible length of runway to have. You can see how its cash balance has changed over time in the image below. View our latest analysis for INOVIQ How Well Is INOVIQ Growing? On balance, we think it's mildly positive that INOVIQ trimmed its cash burn by 17% over the last twelve months. But the revenue dip of 17% in the same period was a bit concerning. In light of the data above, we're fairly sanguine about the business growth trajectory. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years. How Easily Can INOVIQ Raise Cash? Even though it seems like INOVIQ is developing its business nicely, we still like to consider how easily it could raise more money to accelerate growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn. Since it has a market capitalisation of AU$44m, INOVIQ's AU$4.7m in cash burn equates to about 11% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution. So, Should We Worry About INOVIQ's Cash Burn? Even though its falling revenue makes us a little nervous, we are compelled to mention that we thought INOVIQ's cash runway was relatively promising. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about INOVIQ's situation. Taking a deeper dive, we've spotted 5 warning signs for INOVIQ you should be aware of, and 1 of them makes us a bit uncomfortable. Of course INOVIQ may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
