MetaBank, a financial empowerment company, announced Tuesday (March 29) that it is changing its name to Pathward to unite the company under a single identity.
After a number of strategic acquisitions, MetaBank initiated a brand strategy review in 2021. The firm said the Pathward name was born out of the company’s desire to provide “a path forward to people and businesses so they can reach the next stage of their financial journey.”
In a press release, the company said it will be making several changes, including launching a new brand identity and website. However, it will continue to serve customers at MetaBank throughout the transition.
“Expanding financial access is too complex and important to be a part-time activity, which is why we’ve made financial inclusion for all the heart of everything we do,” MetaBank CEO Brett Pharr said in the release. “Pathward signals our commitment to removing barriers that prevent millions of Americans from achieving access to the financial system.
“Our new name serves as a constant reminder of the importance of creating a path forward for the unbanked, underbanked, and underserved to help them achieve economic mobility.”
MetaBank utilizes its national bank charter, coordination with regulators and understanding of risk mitigation and compliance to deliver a certain experience for clients, according to the release.
Meta Financial Group, the public holding company for the bank, also plans to change its name to Pathward Financial by the end of 2022.
The name Meta has seen more widespread attention since last year when Facebook changed its name to Meta. Last year, Facebook closed a deal for $60 million to buy the trademark assets of Meta Financial.
Read more: Facebook Forked Over $60M to Acquire Trademark Assets from Meta Financial Group
The social media giant’s rebranding was meant to focus on the metaverse — the virtual reality world that Meta wanted to capitalize on and look at the future for. The work included virtual reality as well as augmented reality, intending to let users live and interact in a shared virtual space.
Meta Financial Group had said in a regulatory filing that a Delaware firm called Beige Key LLC had bought the rights, both domestic and international, but the owner wasn’t named at the time.
At the time, Meta Financial Group said that it was already looking into its new brand strategy.
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