KM in FinanceThis blog post represents a sneak peak at my upcoming book KM in Practice

Show Me the Money!  –  KM in Finance

The financial services industry is a highly dynamic and competitive marketplace. As the fight for customers intensifies, it is increasingly important to attend to customer needs while ensuring customer information is shared with the right people at the right time across the institution. To this end the technology supporting the institution is vital to facilitating the movement of information and knowledge to the customer. KM systems will have an increased importance as trends in personal investing move towards broader services and integrated product offerings.

By utilizing a knowledge management system, all employees interacting with a customer will have up to date knowledge of that customer’s breadth of relationship and experience with the institution. This helps the institution with cross selling, up selling and reporting on the effectiveness of any new customer initiatives.

It is well recognized that the financial services business environment is ever changing and is doing so at an ever increasing rate. This presents financial organizations with the challenge of acting and reacting to this volatility and communicating an appropriate value proposition to the market. In addition having an increasingly sophisticated consumer who is armed with the latest trading technology has added further stress to these companies to deliver the right knowledge at the right time in the right way to their customers.

If you are involved in the financial services sector as an employee and/or customer I would like to hear from you. Are you utilizing the tools and receiving the knowledge to make you successful? Look forward to all of your comments!

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