Knowledge Management Practices In Banking Industry

This paper reveals a Banking Knowledge Management Model (BKMM), which encompasses knowledge creation, knowledge retention and knowledge sharing and more importantly, how each of these elements can be integrated in enhancing the quality of banking operations. The various components of Banking Knowledge Management Model will be explained in details so as the practices and progress of knowledge management in banking operations. Furthermore, this paper captures relevant case study, thematic groups in banking, data mining, artificial intelligence in the banking industry and benefits of knowledge management. I conclude that application of knowledge management in public sector banking has helped a great deal in bridging the gap between bank officials and customers. This is one respect in which private banks used to score over the public ones earlier. But times have changed now drastically with the introduction of knowledge management practices in banking industry