EVALUATING THE SUCCESS FACTORS FOR KNOWLEDGE MANAGEMENT IN THE FINANCIAL SECTOR: AN AHP- DEMATEL APPROACH

Abstract

The objective of this article is to identify and understand the success factors of knowledge management within the financial sector. In the ever-evolving business environment, effective knowledge management (KM) is imperative to maintain a competitive advantage. Effective KM within financial institutions can build standardized processes, ensure speedy delivery, and foster better customer relationship management. An integrated approach of the Analytical Hierarchy Process (AHP) and the Decision-Making Trial and Evaluation Laboratory (DEMATEL) methods was used to rank these critical success factors and understand their interrelationships. The findings identify organizational factors (cultural aspects, organizational structure, top management support), technological factors (technological adoption, infrastructure support, collaborative systems), and human resources factors (training & learning, agile workforce, knowledge sharing) as the critical success factors. Technological factors were identified as the most important factors. The article further complements the findings of the AHP by exploring the interrelationships between the identified factors to understand and prioritize possible intervention areas. This research has significant theoretical and practical implications. The findings can help financial institutions implement and manage knowledge management initiatives within the organization. This study also adds to the extant literature and addresses gaps in the research in the context of KM within the financial sector.