Thanks to digital banking, retail banks now have the ability to conduct business with their customers around the clock. Since digital banking is now the new norm, banks are looking for new ways to differentiate and compete. The number one way retail banks can accomplish this is by innovating and removing friction from the customer journey. To do this, banks need to adopt a variety of technologies that allow them to adjust their business models and target their customers on an individual level. This means adopting more advanced big data and analytics solutions, improving multi-channel delivery, and using open APIs to become more than just transaction processors. With the right level of innovation, retail banks have the opportunity to provide a variety of new products and services to their customers through personalized digital interactions.