NIET Journal of Engineering & Technology (NIETJET)

Volume 7, Issue Summer 2019 ISSN: 2229-5828 (Print)

BANKING MANAGEMENT ONLINE

MODEL
Hirdesh Sharma 1, Kumar Harsh 1, Nainika Singh, Janib Hussain 1
1
Department of Computer science & Engineering, Noida Institute of Engineering and Technology,
Greater, Noida 201306, India.

Abstract : The globalization of finance market as well as products have forced monetary institutions to have an
organized knowledge-based model that is efficient in managing banking operations. This paper proposes a Model for
efficient Bank Management. The Bank Management System allows maintainance of an account in a bank. In this paper
a study of functionality of a Bank Account Management System is discussed in order to gain better understanding of
technical features offered by banks. Every organization needs to define and manage requirements to ensure customer
needs are met, while proving compliance and staying on the schedule. Thus a knowledge management model will allow
incorporating all processes so as to permit various features effectively. The model thus proposed encompasses knowledge
creation, its retention as well as enabling sharing of how each element can be integrated in enhancing the quality of
banking operations. This paper presents Bank management as an extension of Knowledge Management. This paper is
relevant in current scenario as market is highly demanding today and if an organization wants to have a competitive
edge, it must manage its assets well.

Keywords - knowledge management, banking system, management system, banking management, finance
management
1. Introduction
The knowledge management system for the field of finance is very important as in the sector of finance as lot
of information is available with employees which can be related to potential as well as current customers that
they meet everyday. This can be lost easily as employee gets transferred, or resigns from the organization. Thus
gathering, safely storing and sharing knowledge efficiently allows creation of a database that can increase
efficiency and satisfaction of the employees. A knowledge management system can enable the banks and all
employees to perform their best on the job. Sometimes it becomes tiring for employees to filter information
useful to them or get useful and relevant data from an expert to effectively perform their duties on the job in
such cases best practices come in hand. A person in a Company may leave, retire or die and the knowledge is
lost with him as well causing damage to social network, leading to reduction in productivity and financial
breakdown etc.
Before discussing the problem, an understanding is needed about the concept of knowledge and its management.
Knowledge includes being familiar with, being aware of and understanding of concepts that is gained through
experience as well as understanding that is derived after comparative analysis and identifying the results while
making connections. This knowledge is also gained by experience of others which means that we acquire skills
and expertise by education. Some researchers have also defined knowledge as knowing why, what, how, who,
where and when of a concept to relate it with managing knowledge concepts. Knowledge Management refers
to a case when an enterprise consciously and comprehensively gathers, organizes, shares, and analyses
information and put that work to use by sharing such knowledge. An effective knowledge management should
reduce costs. Most individuals, teams and organizations are today continually redoing what has been done
already as they don’t have an idea that what they aim to do has been done already elsewhere without an idea
where to access that knowledge. This becomes inefficient and a costly activity while reusing knowledge
systematically can bring in a major transformation along with show of substantial cost benefits. Effective
knowledge management, therefore, can dramatically improve quality of products and/or services offered by the
financial institutions. It helps better relations with stakeholder and better understating of their needs, customer
needs, employee needs, industry needs.

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Publisher: Noida Institute of Engineering & Technology,
19, Knowledge Park-II, Institutional Area, Greater Noida (UP), India.
 NIET Journal of Engineering & Technology (NIETJET)
Volume 7, Issue Summer 2019 ISSN: 2229-5828 (Print)

Knowledge Management is in essence about ensuring that the right knowledge or information is made available
to assist right people at right time. This can be achieved by integrating this practice into standard business
policies.
while making decisions. Also employees of an organization should be able to improve their skills by accessing
and using its knowledge. Thus knowledge is an intangible asset. Information systems tailor made for banks are
more accurately are knowledge management systems that enable provide asset to banks in time. This system
can be used in corporates to extract their knowledge that can be achieved through a portal based approach,
where information of the best practices are stored and it would be retrieved by authorized employees of the
organization.
The main limitation over the years has been that banks have used manual process. Thus with the advent of
computer systems knowledge management has become easier and has enabled handling of large volumes of
data. Without this if a specific information is needed, a big pool of information has to be surfed to find a solution.
But even with a system, as cummulative information gathers over time it could result in less timely responses
and decline of capacity leading to inefficiency. Consequently, efficient and effective recovery of knowledge is
increasingly becoming relevant. Application of knowledge management to finance sector will reap mutiple
benefits. It will permit banks to outperform their competitors. Apart from large volumes of information, the use
of information technology (IT) in managing knowledge has given knowledge management a new dimension.
With the appropriate strategies, IT could help to carry out and maximize the benefits of management initiatives,
including knowledge management. The main objective of the study is to understand the conceptual framework
of knowledge management system and its benefits in Banking sector. A study in Europe shows less than 20%
of banks have adopted Knowledge management models and follow its principles. The financial knowledge
repository is an online database that captures, organizes, and categorizes relevant information. Retaining and
sharing relevant knowledge help organizations connect people with information and expertise globally through
libraries, forums, chat etc. It provides a central location to collect, contribute and share digital learning resources
for use in an organisation. Ideal way to organize is using NoSQL databases that use cloud based
architecture[1,2].
This paper proposes a Bank Management Online Model(BMoM) that will capture all the benefits offered by a
knowledge management system which are shown below.
BMoM Technique with Process Benefits
Consulting an experienced content expert allows Right way to manage knowledge will allow reuse of
knowledge identification. work done and prevent waste of efforts of employees
and inefficiency in the organization.
Enhances the organization efficiency as well as its
productivity.
Reduces the loss of knowledge
Knowledge Acquisition using extraction from some It will help staff in an organization to improve upon
human expert using task analysis and their skills.
Documentation Help employees make better decision
Knowledge sharing is facilitated with the internet, It opens the doors to new collaborations and sharing.
Emails and other technological means. Improves collaboration among employees as well as
enabling discussions with leading experts.
Knowledge Storage, Use and measurement as Improves collaboration with help of innovative ideas.
standardizing ways of working. Reduces cost of training.
Improves customer satisfaction.

2.Literature Review A discussion about the achievements that modern Japan can be proud of is its
economic growth with equity. They discuss how knowledge was a crucial tool in this process and that it is
important to understand the underlying factors and dynamics. Knowledge in general is possessed by individuals
who tend to leave or forget over time. However, knowledge integration tackle lot of such problems[3].
The system proposed is suggested as a way for facilitating knowledge integration. The system helps the
organizational team to identify potential individuals who have possession of diverse knowledge base and it uses
the concept of “collective mind” to understand meaningful relations and comprehension function in the social

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Publisher: Noida Institute of Engineering & Technology,
19, Knowledge Park-II, Institutional Area, Greater Noida (UP), India.
 NIET Journal of Engineering & Technology (NIETJET)
Volume 7, Issue Summer 2019 ISSN: 2229-5828 (Print)

system. The authors discuss a conceptual framework for managing knowledge integration that is unstructured
and people carry around in mind and pass among themselves. It investigates the concepts and elements, the
drivers, and challenges involved in knowledge management. [4,6-8,10].
The knowledge management (KM) process model is processed. It effectively explains how to obtain desired
results in an organization. The necessary requirements for obtaining KM culture is determined and then other
processes are adjusted to accommodate the change. To build a model components are integrated which are
described by the author and various technologies are applied that permit knowledge sharing among each other
to allow uninterrupted flow[9]. Nowadays under competitive conditions, KM increases efficiency by reducing
time taken to make decisions and save lots of rework. For a financial institution, one of the most important
resource is knowledge at par with other materials. To customize, information from best practices, blogs etc can
be accumulated[12].

3. Proposed Research Model: Banking Management Online Model

The first step would be understanding the banking process. A bank process requires multiple entities to be
managed as shown in figure1

Fig 1
The bank requires management at different levels and processes. Knowledge may require to be distributed
among its geographically dispersed employees. When resources like people, technology and information is put
together, it becomes a product. There are mainly three components in the model. Those are knowledge Input,
database and secured knowledge sharing and feedback with access. BMoM contains various sub-components
like Internal Environmen(CEO, Manager and personnel involved in banking services); The external
environment like government, society, media, competitors; customer technology like Internet, Intranet, e-mail,
Mobile etc;
Knowledge sources like documents, reports, etc. Implicit Knowledge which is more informal like Views, Ideas,
Thoughts, Plans, Experience, Oral Communication, Interview etc.
In any work environment factors that influence decision making include knowledge of past experience and
similarity to those circumstances, although actors like age, society believes do play a role but for simplicity of
the model, lets take past knowledge base and current available knowledge as main deciding factors. This creates
the need for a structured approach and need to rethink current approaches to decision-making. The feedback
based system is a self learning model that can create, acquire, organize and share knowledge that can gain
competitive advantage. A major challenge for knowledge management is training people to embrace a
knowledge management oriented culture. Technology in today’s world can be characterized as scattered and in
excess. There are large volumes of knowledge dispersed in organizations with ever-increasing size. Due to
mergers, acquisition and alliances, banks are becoming more and more versatile in the type of businesses they
operate and in terms of banking customers. Knowledge sharing can be done with the help of technology like

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Publisher: Noida Institute of Engineering & Technology,
19, Knowledge Park-II, Institutional Area, Greater Noida (UP), India.
 NIET Journal of Engineering & Technology (NIETJET)
Volume 7, Issue Summer 2019 ISSN: 2229-5828 (Print)

use of Mobiles, hardware and software, networks, email, etc. Knowledge repositories and data warehouse are
some of the technologies used for data retention. The essence of knowledge management is to manage all of its
components and sub-components for bank’s operational effectiveness. Fig2 shows the components of the
proposed model

Fig2
4.CONCLUSION
Employees in banks will be able to work efficiently if they manage their knowledge to perform tasks within and
outside the organization. Any financial organization that manages the knowledge of its employees well is bound
to outperform its competitors. In the future as technology scenario evolves, additional features that will help
manage knowledge well like securing access to knowledge using biometrics like facial or finger recognition.
The future era will be information era where AI can be integrated with organizing and access of information.

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Publisher: Noida Institute of Engineering & Technology,
19, Knowledge Park-II, Institutional Area, Greater Noida (UP), India.
 NIET Journal of Engineering & Technology (NIETJET)
Volume 7, Issue Summer 2019 ISSN: 2229-5828 (Print)

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Publisher: Noida Institute of Engineering & Technology,
19, Knowledge Park-II, Institutional Area, Greater Noida (UP), India.