Technology integration into contemporary society and business operations is a reality in Namibia. The financial services sector is a vibrant sector that embraces global trends and boasts an advanced ICT infrastructure. The banking sector, though challenged by the lack of expert knowledge, is directly connected to South Africa where the banking sector sources the knowledge it needs to support local operations. There is a critical gap in the literature on the adoption of ICT for knowledge development in the Namibian financial sector. This qualitative, multi-case study of the perceptions of staff about ICT-based knowledge development shows that Namibian banks have advanced ICT infrastructure which they have managed to adopt for knowledge development purposes. The findings also prove the applicability of technology adoption models to ICT-based knowledge development. Key concerns included management support, consultation in the development of knowledge development initiatives, integration of knowledge development strategies into staff processes and increasing awareness activities. The recommendations are: (1) that banks drive knowledge development (2) that staff members are involved in the development, and (3) that knowledge development initiatives be blended with the work processes of staff.