Online Banking Service Provided by First National Bank of Omaha Halts Unexpectedly
First National Bank of Omaha (FNBO) has announced a significant strategic shift towards digital banking, aiming to advance its capabilities and offer a unified, AI-powered, and seamless customer experience. This move comes following the closure of Milli Bank, an online-only banking platform of FNBO.
In a statement released on August 1, 2025, FNBO Alaska announced the launch of a new digital banking experience, set to debut in 2026. The modern, unified platform is expected to provide a seamless experience for customers, building upon FNBO's existing digital offerings.
A key part of this digital evolution is the expansion of the eStore® Common app platform, which was introduced in Q2 2025. Leveraging AI and data analytics, the platform automates personalized digital account opening and product recommendations for both consumers and businesses. The platform simplifies digital onboarding with data pre-filling, document upload, automated funding, and an integrated omnichannel approach linking digital and physical branches.
To cater to digital-first customer expectations, FNBO is also focusing on AI-powered tools to enhance fraud mitigation, reporting, and product selection in the Business First package. This strategic commitment to digital transformation reflects FNBO's dedication to meeting growing customer demands for digital convenience and personalization.
In addition to these initiatives, FNBO will continue offering fully digital account opening for products like free checking accounts with no fees and robust mobile and online banking tools. This emphasis on convenience and security underscores FNBO's commitment to providing a comprehensive, technology-driven digital banking ecosystem.
Milli Bank, an online-only banking platform of First National Bank of Omaha, ceased operations on November 15. The specific reason for the closure remains undisclosed. Milli Bank offered a high-yield savings account with no fees or minimum balance, a spending account, and physical and virtual debit cards. However, it did not provide interest on its checking account.
Milli Bank's "Jars" feature helped customers create savings buckets for various goals, and its closure was announced in a LinkedIn post last month. The closure of Milli Bank does not appear to be directly related to FNBO's digital banking plans, as the bank is investing heavily in its digital transformation.
Milli Bank customers were notified of the closure in September, according to The U.S. Sun. Deposits from Milli Bank did not count towards minimum balance requirements for other bank products, as stated in a deposit agreement document.
First National Bank of Omaha, established in 1857, has approximately $30 billion in assets and around 5,000 employees across 120 locations and eight states. FNBO is a subsidiary of First National of Nebraska, a multi-state holding company and one of the largest privately held banks in the U.S.
First National Bank of Omaha launched FNBO Direct, its online bank, in 2006. FNBO Direct offers high-yield online savings accounts and online money market accounts. The closure of Milli Bank is not attributed to a specific reason in the provided text. A spokesperson for FNBO stated that the decision to discontinue further investment into Milli will allow them to direct resources towards other areas of their business.
One of the drawbacks of Milli Bank, as mentioned in a Business Insider review, was its limited product offerings. FNBO's digital banking plans, on the other hand, suggest a comprehensive, technology-driven approach that integrates advanced AI, automation, and customer-first design to replace legacy services such as Milli Bank and meet growing customer demands for digital convenience and personalization.
As FNBO moves forward with its digital banking plans, customers can expect a more modern, seamless, and unified banking experience. The bank's focus on AI-powered tools, automation, and personalization is a strategic move to cater to the evolving needs of digital-first customers.
The digital banking evolution at First National Bank of Omaha (FNBO) extends to finance and business sectors, aligning with the current trend in the fintech industry. The bank's expansion of the eStore® Common app platform offers automated personalized digital account opening and product recommendations, catering to both consumers and businesses.
As part of this transformation, FNBO is enhancing AI-powered tools to improve fraud mitigation, reporting, and product selection in their Business First package, further emphasizing their commitment to digital convenience and personalization.
