The Church of England could decide as early as July whether to appoint women bishops, but pockets of opposition remain.
Today the Church of England Synod is meeting to debate a crucial vote which, if supported, could see women Bishops in England by Christmas.
The new high street bank, backed by the Church of England's investment arm, will run 314 branches across the UK
The Archbishop of Canterbury will issue a plea today for the Church of England to "challenge fear" within its ranks as new legislation to introduce women bishops looks on course to gain approval later this year.
The Most Rev Justin Welby is due to say that there needs to be a "cultural change" in the life of the Church to build love and trust between opposing groups.
"We have agreed and God willing we follow this through over the next few months until it is part of an agreed measure, that we will ordain women as bishops," he will say in his presidential address to the General Synod.
"At the same time we have agreed that while doing that, we want all parts of the Church to flourish. If we are to challenge fear we have to find a cultural change in the life of the Church, in the way our groups and parties work, sufficient to build love and trust."
Females priests have welcomed fast-track legislation which could see women bishops selected in the Church of England by the end of the year.
358 for 39 against 9 abstentions - carried. Well done #synod!
358 in favour, 39 against, 9 abstentions. This means there will be a final debate and vote on WOMEN BISHOPS this JULY #yay
Legislation which could see the first female bishop in the Church of England selected before the end of this year has been hailed as a step towards the "Promised Land".
A move to halve the consultation period was backed by 358 General Synod members, with 39 voting against and nine abstaining.
Lois Haslam, a member from Chester diocese, speaking in the debate over the legislation, said: "I feel something like what Moses must have felt as he approached the promised land.
"We have wandered round women bishops legislation for many, many years, we are now approaching the promised land and it is exciting."
The General Synod has backed legislation which could see the first female bishop in the Church of England selected before the end of this year.
The move to halve the consultation period was backed by 358 members, with 39 voting against and nine abstaining.
The Church decides changes "as a family", which is why the debate of women bishops had been raging for 20 years, Rev Sally Hitchiner told Daybreak.
"The problem is that we are not business. We can't just decide things because it is best for our brand," said the Anglican priest.
"We have to decide things as a family, and as a family we have to make sure no one gets left out. So, that's why it has taken this really long process.
"It is quite embarrassing - most of my friends outside the Church think we're quite bonkers. In this day and age why are still there things women cannot do in the UK?"
No mention of the devil or sin is made in the new version of the Baptism service in which parents and godparents are asked to "reject evil, and all its many forms, and all its empty promises".
In the original version the vicar asks: "Do you reject the devil and all rebellion against God?", prompting the reply: "I reject them." They then ask: "Do you repent of the sins that separate us from God and neighbour?" with the answer: "I repent of them."
"Instead of explaining what baptism means and what the various parts of the service signify, its solution is to do away with key elements of the service altogether!" Dr Nazir-Ali says in the article.
The Church of England has been accused of "dumbing down" the baptism service, one of the cornerstones of the faith, by changing its wording so parents and godparents no longer have to "repent sins" and "reject the devil".
A trial of the new wording, aimed at making it easier to understand, will last in parishes until Easter.
Former Bishop of Rochester Michael Nazir-Ali, writing in The Mail on Sunday, branded it as part of the "constant dumbing down of Christian teaching" rather than making an effort to explain the meaning of baptism.
Celebrations over the potential approval of women bishops in England should not start just yet, the Archbishop of York has warned.
Members of the General Synod voted in favour of new proposals which see the introduction of women bishops.
However, leading conservative evangelicals said there still remained "major issues" to be resolved - prompting the Archbishop of York, Dr John Sentamu, to warn against "opening the champagne" yet.
"We should not open the champagne bottles or whatever drink we regard as celebratory because we need to agree to work together until the end," he said
The move follows a bitter row within the Church of England after the legislation failed by just six votes to get approval at the General Synod a year ago.