“Can a traditional regional bank (FNBO) build a competitive mobile-first neobank brand that meaningfully differentiates on savings automation features?”
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.
MILLI Bank discloses First National Bank of Omaha (in-house) as its banking provider, with First National Bank of Omaha as its sponsor bank, according to the Embedded Finance Index 2026.
MILLI Bank does not disclose a bank charter of its own; its banking services are provided through First National Bank of Omaha.
The Embedded Finance Index 2026 maps 2 layers in MILLI Bank's stack: Banking / BaaS (First National Bank of Omaha (in-house)); Sponsor bank (First National Bank of Omaha).
MILLI Bank is headquartered in Omaha, Nebraska, USA.
Get a read on where your own stack stands against MILLI Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.