ANZ has launched a new video conferencing service that will make it easier for its Australian private wealth clients to communicate with their respective relationship managers.

Wealth Presence, the new service, makes use of Cisco Technologies' telepresence platform to create a life-like video meeting experience between parties who may be located hundreds or thousands of kilometers away, the firm said in a statement. These tailoured on-demand video conversations are geared toward high net worth worth customers who are always on the move and may not have the time to travel to discuss their financial affairs with consultants.

"As ANZ Private and ANZ Trustees places strong importance on building relationships with clients, we believe the realistic face-to-face experience Wealth Presence creates is a natural extension of this and transforms the flexibility and convenience of the client experience," said Catherine McDowell, managing director of ANZ Private Wealth.

Telepresence units have already been deployed in Brisbane, Sydney, Adelaide, Newcastle, Perth and Melbourne after a successful four-month trial phase. Two more sites will be opened in the next months. According to the bank, this is the first instance it has used this type of technology to connect with its clients, making it one of the first banks globally to use life-like video meeting technology to enhance the private banking experience.

ANZ Private and ANZ Trustees are wholly-owned units of Australia and New Zealand Banking Group and specialise in the financial needs of high net worth individuals and their families.