A Case Study on Knowledge Management Implementation in the Banking Sector – Issues and Challenges

Knowledge management has been increasingly seen as one of the most important practices for organisations to improve its efficiency, effectiveness and long-term competitive advantage. This study aims to uncover the issues and challenges faced by banks, in particular, embarking on an enterprise-wide knowledge management implementation. The findings of this case study research is based upon a banking institution (hereafter referred to as XM Bank) rated among the top ten largest banks in Malaysia. The findings, lesson learned and observations were derived after a series of in-depth interviews with key management representatives. The interviews were followed by a survey against a larger population of the bank. The analysis of the findings from the interviews and survey led to an extrapolation of six key lessons learned. The six key lessons learned is a descriptive guideline for knowledge management implementation efforts in the banking sector in particular and organisations in general. Although the study is based on a specific application in one institution (bank), it provides useful insights and awareness of issues and challenges banks, and other institutions might face when implementing knowledge management.