...customers in number of venues, most notably the Internet, which has enabled financial institutions to extend beyond their local markets as they troll for new business. Consumers can search online for the best rates on a mortgage, for example, and are no longer limited to local financial institutions.

On the regulatory side, there is Basel II, a revised code on risk management for global financial institutions that will go into effect in 2006. That regulation aims to make banks' assessments of their loans and investments more sensitive to risk, such as loan defaults or volatile global financial markets.

The knowledge management implications of complying with the new code are enormous. Financial institutions will have to link database and risk management systems around the world, many of which are based on different...

NOTE: All illustrations and photos have been removed from this article.



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