This paper presents a theoretical and an empirical study of knowledge networks. This is an emerging phenomenon and a common form of work structure adopted also in the banking industry. Starting from the theoretical perspective, this work focuses on knowledge as an important factor in the modern economy of hyper-competition, needed not just to win, but also to play. In fact, the structure of economy has shifted from a product-based strategy to a knowledge-based business. Among numerous definitions of knowledge proposed in the literature, we share the hermeneutical one. Successively, this paper studies network phenomenon as a form of collaborative work based on communication and collaboration. We aim to demonstrate why network structure best allows knowledge sharing practices inside a firm. Finally, we propose a study on sixty banks, realized using structured and unstructured questionnaires and interviews. Questionnaires try to analyse two main changing dimensions related to knowledge networks implementation: the organizational one and the technological one. We observe that a change toward a knowledge sharing culture and perspective is just in the early stage. Moreover, analysing the empirical results reached examining the sample, we demonstrate that banking industry can face many barriers to knowledge sharing practice through networks.