Skip to main content
SpringerLink
Log in

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

  • Conference paper
  • First Online:
Advances in Information and Communication (FICC 2019)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 69))

Included in the following conference series:

Abstract

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.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Sutherland, I.E.: The ultimate display. In: Proceedings of the IFIP Congress, vol. 2. International Federation for Information Processing (1965)

    Google Scholar 

  2. Rheingold, H.: Virtual Reality. Simon & Schuster, New York (1992)

    MATH  Google Scholar 

  3. Cruz-Neira, C., Sandin, D.J., DeFanti, T.A., Kenyon, R.V., Hart, J.C.: The CAVE: audio visual experience automatic virtual environment. Commun. ACM 35(6), 64–72 (1992)

    Article  Google Scholar 

  4. Denby, B., Campbell, A.G., Carr, H., O’Hare, G.M.P.: The LAIR lightweight affordable immersion room. Presence: Teleoperators Virtual Environ. 18(5), 409–411 (2009)

    Article  Google Scholar 

  5. Caudell, T.P., Mizell, D.W.: Augmented reality: an application of heads-up display technology to manual manufacturing processes, vol. 2, pp. 659–669, August 2002

    Google Scholar 

  6. Milgram, P., Kishino, F.: A taxonomy of mixed reality visual displays. IEICE (Inst. Electron. Inf. Commun. Eng.) Trans. Inf. Syst. 77(12), 1321–1329 (1994). Special issue on Networked Reality

    Google Scholar 

  7. Russon, M.-A.: Virtual reality: 70 not so keen to have one at home (2016)

    Google Scholar 

  8. Campbell, A.G., Santiago, K., Hoo, D., Mangina, E.: Future mixed reality educational spaces. In: Future Technologies Conference (FTC), pp. 1088–1093. IEEE (2016)

    Google Scholar 

  9. Sampaio, A.Z., Ferreira, M.M., Rosário, D.P., Martins, O.P.: 3D and VR models in civil engineering education: construction, rehabilitation and maintenance. Autom. Constr. 19(7), 819–828 (2010)

    Article  Google Scholar 

  10. McCloy, R., Stone, R.: Science, medicine, and the future: virtual reality in surgery. BMJ: Br. Med. J. 323(7318), 912 (2001)

    Article  Google Scholar 

  11. Korgaonkar, P.K., Moschis, G.P.: Consumer adoption of videotex services. J. Dir. Mark. 1(4), 63–71 (1987)

    Article  Google Scholar 

  12. Görgü, L., Campbell, A., Dragone, M., O’Hare, G.M.P.: Exergaming: a future of mixing entertainment and exercise assisted by mixed reality agents. Comput. Entertain. (CIE) 8(4), 27 (2010)

    Google Scholar 

  13. Thomas, B., Close, B., Donoghue, J., Squires, J., De Bondi, P., Piekarski, W.: First person indoor/outdoor augmented reality application: arquake. Pers. Ubiquit. Comput. 6(1), 75–86 (2002)

    Article  Google Scholar 

  14. Tan, M., Teo, T.S.H.: Factors influencing the adoption of internet banking. J. AIS 1(1es), 5 (2000)

    Google Scholar 

  15. Ajzen, I.: The theory of planned behavior. Organ. Behav. Hum. Decis. Process. 50(2), 179–211 (1991)

    Article  Google Scholar 

  16. Rogers, E.M.: Diffusion of Innovations. Simon and Schuster, New York (1962)

    Google Scholar 

  17. Simjian, L.G.: Depository machine combined with image recording means. US Patent 3,079,603, 26 February 1963

    Google Scholar 

  18. Constable, G.E.P., Cullen, G.E., Swarbrick, R.: Access-control equipment and itemdispensing systems including such equipment. US Patent 3,543,904, 1 December 1970

    Google Scholar 

  19. Fletcher, C.: Videotex: return engagement: undaunted by unsuccessful ventures, US corporate giants are planning new investments to give the technology a second chance. IEEE Spectr. 22(10), 34–38 (1985)

    Article  Google Scholar 

  20. Karduck, A.P., Geiser, A., Gutekunst, T.: Multimedia technology in banking. IEEE Multimedia 3(4), 82–86 (1996)

    Article  Google Scholar 

  21. Landauer, T.K.: The Trouble with Computers: Usefulness, Usability, and Productivity. Taylor & Francis, Milton Park (1995)

    Google Scholar 

  22. Allen, B.: Information Tasks: Toward a User-Centered Approach to Information Systems. Emerald Group Publishing Limited, Bingley (1996)

    Google Scholar 

  23. Olatokun, W.M., Igbinedion, L.J.: The adoption of automatic teller machines in Nigeria: an application of the theory of diffusion of innovation. Issues Informing Sci. Inf. Technol. 6(2), 373–393 (2009)

    Article  Google Scholar 

  24. Donner, J., Tellez, C.A.: Mobile banking and economic development: linking adoption, impact, and use. Asian J. Commun. 18(4), 318–332 (2008)

    Article  Google Scholar 

  25. Wissmath, B., Weibel, D., Mast, F.W.: Measuring presence with verbal versus pictorial scales: a comparison between online-and ex post-ratings. Virtual Real. 14(1), 43–53 (2010)

    Article  Google Scholar 

  26. Weibel, D., Schmutz, J., Pahud, O., Wissmath, B.: Measuring spatial presence: introducing and validating the pictorial presence SAM. PRESENCE: Teleoperators Virtual Environ. 24(1), 44–61 (2015)

    Article  Google Scholar 

  27. Bradley, M.M., Lang, P.J.: Measuring emotion: the self-assessment manikin and the semantic differential. J. Behav. Ther. Exp. Psychiatry 25(1), 49–59 (1994)

    Article  Google Scholar 

  28. Riva, G., Davide, F., IJsselsteijn, W.A.: Being there: the experience of presence in mediated environments. In: Being There: Concepts, Effects and Measurement of User Presence in Synthetic Environments, vol. 5 (2003)

    Google Scholar 

  29. Takatalo, J., Nyman, G., Laaksonen, L.: Components of human experience in virtual environments. Comput. Hum. Behav. 24(1), 1–15 (2008)

    Article  Google Scholar 

  30. Mennecke, B., Roche, E.M., Bray, D.A., Konsynski, B., Lester, J., Rowe, M., Townsend, A.M.: Second life and other virtual worlds: a roadmap for research (2007)

    Google Scholar 

  31. DeMarco, M., Lesser, E., O’Driscoll, T.: Leadership in a distributed world: lessons from online gaming. IBM Institute for Business Value (2007)

    Google Scholar 

  32. Dodgson, M., Gann, D.M., Phillips, N.: Organizational learning and the technology of foolishness: the case of virtual worlds at IBM. Organ. Sci. 24(5), 1358–1376 (2013)

    Article  Google Scholar 

  33. Van De Zande, P.: The day des died. SANS Institute (2001)

    Google Scholar 

  34. Alanazi, H., Zaidan, B.B., Zaidan, A.A., Jalab, H.A., Shabbir, M., Al-Nabhani, Y., et al.: New comparative study between des, 3DES and AES within nine factors. arXiv preprint arXiv:1003.4085 (2010)

  35. Slater, M., Steed, A.: A virtual presence counter. Presence 9(5), 413–434 (2000)

    Article  Google Scholar 

  36. Czerwinski, M., Tan, D.S., Robertson, G.G.: Women take a wider view. In: Proceedings of CHI 2002, pp. 195–202. ACM Press (2002)

    Google Scholar 

  37. O’Hare, G.M.P., Campbell, A.G., Stafford, J.W.: NeXuS: delivering behavioural realism through intentional agents. In: Proceedings of the 3rd International Conference on Active Media Technology (AMT 2005), pp. 481–486. IEEE Press, May 2005

    Google Scholar 

  38. Campbell, A., Collier, R., Dragone, M., Görgü, L., Holz, T., OGrady, M., OHare, G., Sassu, A., Stafford, J.: Facilitating ubiquitous interaction using intelligent agents. In: Human-Computer Interaction: The Agency Perspective, pp. 303–326 (2012)

    Google Scholar 

  39. Campbell, A.G., Gorgu, L., Kroon, B., Lillis, D., Carr, D., O’Hare, G.M.P.: Giving mobile devices a sixth sense: introducing the sixth middleware for augmented reality applications. In: 2013 IEEE International Symposium on Mixed and Augmented Reality (ISMAR), pp. 245–246. IEEE (2013)

    Google Scholar 

Download references

Acknowledgement

We would like to thank Airfibre for providing a dedicated 20 mbit line which allowed the Video Conferencing software control to run at 1080P. Antonio Tallon and HTC for technical support and advice during the experiment. The experiment was supported by Bank of Ireland, MeetingRoom.io and Wooq Ventures and it would not have been possible without their support.

Author information

Authors and Affiliations

  1. School of Computer Science, University College Dublin, Belfield, Dublin 4, Ireland

    Abraham G. Campbell, Thomas Holz & Mike Harlick

  2. MeetingRoom, Dublin, Ireland

    Thomas Holz, Jonny Cosgrove, Mike Harlick & Tadhg O’Sullivan

Authors
  1. Abraham G. Campbell
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Thomas Holz
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Jonny Cosgrove
    View author publications

    You can also search for this author in PubMed Google Scholar

  4. Mike Harlick
    View author publications

    You can also search for this author in PubMed Google Scholar

  5. Tadhg O’Sullivan
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Abraham G. Campbell .

Editor information

Editors and Affiliations

  1. Faculty of Science and Engineering, Saga University, Saga, Japan

    Kohei Arai

  2. The Science and Information (SAI) Organization, Bradford, UK

    Rahul Bhatia

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Campbell, A.G., Holz, T., Cosgrove, J., Harlick, M., O’Sullivan, T. (2020). Uses of Virtual Reality for Communication in Financial Services: A Case Study on Comparing Different Telepresence Interfaces: Virtual Reality Compared to Video Conferencing. In: Arai, K., Bhatia, R. (eds) Advances in Information and Communication. FICC 2019. Lecture Notes in Networks and Systems, vol 69. Springer, Cham. https://doi.org/10.1007/978-3-030-12388-8_33

Download citation

Publish with us

Policies and ethics

Search

Navigation