Uses of Virtual Reality for Communication in Financial Services: A Case Study on Comparing Different Telepresence Interfaces: Virtual Reality Compared to Video Conferencing

This paper examines the use of Virtual Reality to conduct meetings online and compares them with an approach using traditional video teleconferencing software. The research was conducted using Virtual Reality meeting software and Skype for Business as test environments to compare a Virtual Reality meeting versus a Video conferencing environment. The results point to the improved feelings of presence, closeness, and arousal for Virtual Reality environments, but also demonstrate a difference in the experience for female and male participants. In particular, the use of Avatar’s instead of real-life video images of the participants was preferred by female participants which points to a possible de-biasing ability for Virtual Reality environments. The results also indicate a need to explore different interfaces designs and discuss the lessons learnt from the historical adoption of technology by the financial services community.