MILLI Bank
“Can a traditional regional bank (FNBO) build a competitive mobile-first neobank brand that meaningfully differentiates on savings automation features?”
HQOmaha, Nebraska, USA
IndustryFintech / Neobank
The story
Milli Bank was a consumer-facing mobile banking platform operated as a division of First National Bank of Omaha (FNBO), not an independent fintech. It offered savings accounts with round-ups, auto-savings, and goal-based 'jars' sub-accounts, plus a spending account with physical and virtual debit cards. The platform was positioned as a digital-native banking experience backed by a traditional sponsor/parent bank. FNBO closed Milli in November 2024, citing an end to the mission of the division; remaining customer balances were returned by check.
Product timeline
2022
Milli Bank launched as a mobile-first digital banking division of First National Bank of Omaha (FNBO), offering savings and spending accounts.· banking
2024
Milli Bank shut down operations as of November 15, 2024, ceasing all consumer digital banking services.· pivot
The stack
2 layers disclosed in MILLI Bank’s embedded-finance stack
Banking / BaaS
First National Bank of Omaha (in-house)
Sponsor bank
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.