HSBC has begun implementing Cisco’s video conferencing and telepresence technology to conduct virtual meetings throughout the company’s disparate locations. The technology will allow instant face-to-face meetings around the globe.

Cisco’s video conferencing service provides life-size, high-definition video and recreates the “the interactivity, spontaneity and nuanced communications experience of an in-person meeting”, according to the company. The telepresence system provides a table that can include 6 people on the video conference, with displays, cameras, lighting and microphones, to simulate an actual meeting over the web.

HSBC CIOP, Ken Harvey:

Our current meeting and collaboration tools provide significant increases in productivity, but are no substitute for in-person meetings. Cisco Telepresence gives us the experience and benefit of actually being in the room with colleagues on the other side of the world, without having to pack a suitcase.

Initially, HSBC will install the video conferencing systems to connect locations in London, Chicago, Hong Kong, Mexico City, New York and Dubai. Cisco says the technology will save the bank thousands in travel costs and help promote a cleaner environment by reducing emissions spent through conventional business travel.