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
6 minutes ago
- Yahoo
Eastern Bankshares Inc (EBC) Q2 2025 Earnings Call Highlights: Strong Growth in Earnings and ...
Operating Earnings: $81.7 million, a 21% increase from the first quarter. Net Interest Margin: Expanded by 21 basis points to 3.59%. Operating Efficiency Ratio: Improved to 50.8%. Operating Return on Average Assets: Increased by 21 basis points to 1.3%. Operating Return on Average Tangible Equity: Increased from 11.7% to 13.6%. Total Assets: $25.5 billion, up 2% from March 31. Tangible Book Value Per Share: Increased 4% to $12.53. Loan Growth: 8% annualized growth this quarter. Deposits Growth: 8% annualized growth. Assets Under Management: Reached a record high of $8.7 billion. Net Income: $100.2 million or $0.50 per diluted share. Operating Earnings Per Share: $0.41, a 21% increase from the previous quarter. Net Interest Income: $202 million, or $206.8 million on an FTE basis, a 7% increase from Q1. Non-Interest Income: $42.9 million, compared to a non-interest loss of $236.1 million in Q1. Non-Interest Expense: $137 million, an increase of $6.8 million from the first quarter. Period End Deposits: $21.2 billion, an increase of $424 million from the prior quarter. Period End Loans: Increased by $385 million, led by commercial lending. Allowance for Loan Losses: $232 million or 127 basis points of total loans. Non-Performing Loans: Decreased to $54.7 million or 30 basis points of total loans. Provision for Loan Losses: $7.6 million, up from $6.6 million in the prior quarter. Full Year Loan Growth Outlook: Raised to 3% to 5%. Full Year Deposit Growth Expectation: Lowered to 0% to 1%. Net Interest Income Guidance: $810 million to $820 million. Operating Fee Income Forecast: Increased to $145 million to $150 million. Operating Non-Interest Expense Forecast: $530 million to $540 million. Operating Tax Rate: Revised to 21% to 22%. Warning! GuruFocus has detected 6 Warning Signs with COLFF. Release Date: July 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Eastern Bankshares Inc (NASDAQ:EBC) reported strong second quarter results with operating earnings of $81.7 million, a 21% increase from the first quarter. Net interest margin expanded by 21 basis points to 3.59%, and the operating efficiency ratio improved to 50.8% due to higher revenues and effective expense management. Total assets reached $25.5 billion, up 2% from March 31, with tangible book value per share increasing by 4% to $12.53. Deposits grew at an annualized rate of 8%, with stable deposit costs, highlighting disciplined pricing and a favorable deposit mix. Credit trends remained positive, with non-performing loans improving for the second consecutive quarter and no net charge-offs reported. Negative Points The competitive market for deposits has intensified, impacting the bank's ability to maintain favorable deposit costs. The bank's outlook for deposit growth has been lowered to 0% to 1%, down from the previous range of 1% to 2%. The net interest income guidance has been modestly reduced due to lower average deposit balances. Non-interest expense increased by $6.8 million from the first quarter, driven by higher operating expenses and merger-related costs. The bank remains cautious about economic uncertainties and evolving policies that could impact customers. Q & A Highlights Q: Is it likely that we'll see more securities portfolio restructurings in coming quarters, excluding any related to the Harbor One deal? A: Possibly. We prioritize organic growth, share buybacks, and balance sheet management, including portfolio repositioning. However, due to the merger and the expiration of our current authorization, restructuring is on the back burner for now. - David Rosato, Chief Financial Officer Q: What drove the significant drop in non-performing loans (NPLs) this quarter? Were there any loan sales involved? A: The drop was due to our managed asset group resolving five credits during the quarter, not through loan sales. - David Rosato, Chief Financial Officer Q: Following the Harbor One deal, is there a plan to expand into new markets like Southern Rhode Island, Connecticut, or New York? A: We plan to build out in the Rhode Island market but have no current plans to expand banking services into Connecticut or New York. We already have a presence in Connecticut for wealth management. - Denis Sheahan, Chief Executive Officer Q: Can you provide more details on the strong CNI growth this quarter? What type of customers were involved, and were these new customers or existing ones utilizing more credit? A: It's a combination of both. We're seeing increased confidence from our customer base and have been adding talent in our commercial lending division. The growth is broad-based across all verticals within CNI. - Denis Sheahan, Chief Executive Officer and David Rosato, Chief Financial Officer Q: What is the outlook for the net interest margin in the back half of the year? A: The margin is expected to be relatively flat. Factors include core deposit growth, the impact of securities repositioning, and competitive deposit markets. Accretion income is unpredictable and could affect the margin. - David Rosato, Chief Financial Officer Q: How should we think about the rabbi trust income and its impact on fee income and expenses for the full year? A: Positive equity markets lead to positive rabbi trust income. If markets remain steady, the rabbi trust income and expense won't significantly impact the financials. - David Rosato, Chief Financial Officer Q: Are any of the $118 million in criticized office loans maturing in the next four quarters? A: Yes, there is one criticized loan maturing within the next year. However, there are no non-performing loans or non-accruing loans in the next year's maturities. - David Rosato, Chief Financial Officer Q: Regarding the FASB's proposed ASU on the CECL double count, what will the tangible book pickup look like, and will you be an early adopter? A: If finalized, we plan to early adopt, which applies only to Harbor One. The impact is a 1% to 1.5% reduction in tangible book value dilution and a slight reduction in earn-back time. - David Rosato, Chief Financial Officer For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
36 minutes ago
- Yahoo
Australia, Britain sign 50-year AUKUS submarine partnership treaty
SYDNEY (Reuters) -Australia's government said on Saturday it signed a treaty with Britain to bolster cooperation over the next 50 years on the AUKUS nuclear submarine partnership. The AUKUS pact, agreed upon by Australia, Britain and the U.S. in 2021, aims to provide Australia with nuclear-powered attack submarines from the next decade to counter China's ambitions in the Indo-Pacific. U.S. President Donald Trump's administration announced a formal review of the pact this year. Defence Minister Richard Marles said in a statement that the bilateral treaty was signed with Britain's Defence Secretary John Healey on Saturday after a meeting in the city of Geelong, in Victoria state. "The Geelong Treaty will enable comprehensive cooperation on the design, build, operation, sustainment, and disposal of our SSN-AUKUS submarines," the statement said. The treaty was a "commitment for the next 50 years of UK-Australian bilateral defence cooperation under AUKUS Pillar I", it said, adding that it built on the "strong foundation" of trilateral AUKUS cooperation. Britain's ministry of defence said this week that the bilateral treaty would underpin the two allies' submarine programmes and was expected to be worth up to 20 billion pounds ($27.1 billion) for Britain in exports over the next 25 years. AUKUS is Australia's biggest-ever defence project, with Canberra committing to spend A$368 billion over three decades to the programme, which includes billions of dollars of investment in the U.S. production base. Australia, which this month paid A$800 million to the U.S. in the second instalment under AUKUS, has maintained it is confident the pact will proceed. The defence and foreign ministers of Australia and Britain held talks on Friday in Sydney on boosting cooperation, coinciding with Australia's largest war games. As many as 40,000 troops from 19 countries are taking part in the Talisman Sabre exercises held from July 13 to August 4, which Australia's military has said are a rehearsal for joint warfare to maintain Indo-Pacific stability. Britain has significantly increased its participation in the exercise co-hosted by Australia and the United States, with aircraft carrier HMS Prince of Wales taking part this year.
Yahoo
36 minutes ago
- Yahoo
First Financial Bancorp (FFBC) Q2 2025 Earnings Call Highlights: Record Revenue and Strategic ...
Revenue: Record revenue of $226.3 million, a 5% increase over the same quarter last year. Adjusted Earnings Per Share (EPS): $0.74. Return on Assets (ROA): 1.54%. Return on Tangible Common Equity (ROTCE): 20%. Net Interest Margin: 4.05%, a 17 basis point increase from the first quarter. Loan Growth: 2% on an annualized basis. Adjusted Non-Interest Income: $67.8 million, an 11% increase over the previous quarter. Adjusted Non-Interest Expenses: Increased by 1% compared to the first quarter. Net Charge-Offs: Declined to 21 basis points of total loans. Tangible Common Equity Ratio: Increased to 8.4%. Book Value Per Share: Increased to $15.40, a 4% increase from the linked quarter. Common Dividend: Increased by 4.2% to $0.25 per share. Average Deposit Balances: Increased by $114 million. Allowance for Credit Losses (ACL): Coverage increased to 1.34% of total loans. Provision Expense: $9.8 million during the period. Warning! GuruFocus has detected 3 Warning Sign with TNET. Release Date: July 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points First Financial Bancorp (NASDAQ:FFBC) achieved record revenue of $226.3 million, a 5% increase over the same quarter last year. The company reported a strong net interest margin of 4.05%, representing a 17 basis point increase from the first quarter. Adjusted non-interest income increased by 11% over the previous quarter, with significant growth in mortgage, bank card, leasing, and foreign exchange income. Asset quality remained stable with a 42% reduction in net charge-offs to 21 basis points on an annualized basis. The board of directors approved a 4.2% increase in the common dividend, demonstrating a commitment to shareholder value. Negative Points Commercial real estate loan growth declined due to higher payoffs, impacting overall loan growth. Non-performing assets (NPAs) increased slightly due to downgrades of two commercial borrowers. Non-interest expenses increased slightly due to higher marketing expenses and incentive compensation. The company anticipates a potential impact on net interest margin from expected rate cuts in the coming quarters. Seasonal deposit outflows are expected to be around $100 million in the third quarter, impacting deposit balances. Q & A Highlights Q: How do you see deposit costs evolving in the near future, especially considering recent reductions? A: Jamie Anderson, CFO, noted that deposit costs are expected to decrease slightly by 2 to 3 basis points in the next quarter. They anticipate further reductions following expected rate cuts in September and December. The recent 12 to 13 basis point drop in deposit costs was due to a lag in adjusting rates compared to peers. Q: With strong asset yields, do you expect the net interest margin to peak at 4.05%? A: Jamie Anderson, CFO, confirmed that the 4.05% margin might be a peak, with potential fluctuations depending on future rate cuts. Each 25 basis point rate cut could reduce the margin by about 5 to 6 basis points. Q: Can you elaborate on the efficiency initiatives and their impact on cost management? A: Archie Brown, CEO, explained that the bank is reviewing all functions and departments to improve processes, often through technology and redesign. They are about 80% through this initiative, with further improvements expected as they integrate the recent acquisition of Westfield Bank. Q: What is the expected impact of payoffs on loan growth, and what is the underlying growth rate excluding payoffs? A: Archie Brown, CEO, stated that while commercial real estate payoffs have been high, they expect lower maturities and higher production in Q3. Excluding payoffs, they anticipate a normalized loan growth rate of 6% to 7% over the long term. Q: Can you provide insights into the recent increase in non-performing assets (NPAs) in the C&I segment? A: William Harrod, Chief Credit Officer, attributed the increase to downgrades of two commercial borrowers. One was affected by tariffs but is improving, while the other is undergoing a sale process. They expect resolution by year-end. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
