Thought for the quarter - Punjab National Bank Institute of ...

Problems in implementation of KM process inBanks:e-trackLack of systematic approach in dealing withinformationThough, the banks have recognized Poor network infrastructure for successfulimportance of knowledge management, they are implementation and management offacing problems while implementing this concept. knowledge.Some of the major obstacles in this regard are as Creation of a culture that supports innovation,follows:learning, and knowledge sharing.1) Legacy: Typical closed mindset which over a Networking of internal and external experts inperiod, worked under a controlled order to have the right knowledge at the rightenvironment.time at the right place or find it as quickly as2) Unionism: There are strong unions of bank possible.employees to protect the rights of their A technical infrastructure that supportsmembers. However, in the process, knowledge work from simple knowledgeinadvertently they also have protected support tools to entrants and ultimately moreinefficiencies.sophisticated group ware and decision3) Attitude to “Control”: Development of support.attitude to “Command” and “Control” inBanks, discourage the innovative spirit,Application of KM in Banking:freedom of work, openness in communication,The true applications of KM in Banks can beexpression of views, knowledge sharingviewed by providing the customer, convenienceattitude etc.banking on 24X7 basis by deploying core banking4) Resistances for change by self contendedsolution with integrated delivery channels like ATM,people are major block in the process ofInternet, phone, mobile, Kiosk, call center, AntievolvingKM strategies in Banks.Money Laundering & KYC guidelines. Further, it isApart from all these some of the most common applied to Branch computerization, Wide Areasobstacles are as follow:Networking- Networking of branches under CBS,Lack of balance between knowledge provider Risk Management, Cheque Truncation, Globaland knowledge receiver.Treasury, Securitization, RTGS (Real Time GrossLack of trust among themselvesSettlement), On-line Trading, Mutual Funds, On-Lack of common terminology and sharedline Tax Accounting Systems etc. More over, it canunderstanding of key ideas.be seen in varieties form which can broadly bedivided into following points:Diverse cultures, languages and habits1) To know customers' financial standing andLack of humble acceptance of knowledgebehavioral patternOrganized recognition and reward systems2) Creation of data warehouse and data miningusually do not sufficiently recognizeknowledge contributors.3) For Business InnovationIntolerance against mistakes and lack of help4) For Assessing Loan Riskswhen there is a need5) Customer CentricityUnorganized information6) For Competitiveness7January-March2011