HSBC, which is among the largest banking groups in the world, has revealed plans to enable thousands of its London-based employees to operate from their own homes.

The bank currently has more than 8,000 members of staff working from its offices in Canary Wharf and is aiming to have half of this number working from home or from elsewhere within the next seven years.

And to enable this change bosses at HSBC have indicated that they intend to invest heavily in establishing the kind of technology needed to make the transfer to smarter working practices possible.

"I don’t think we’re a really progressive, perceptive company if 8,000 people have to get up every day at an unearthly hour and go back again," said Michael Geoghegan, HSBC’s chief executive.

"Technology should change our thought process," he added.

A recent report from the Institute of Personnel and Development suggested that enabling staff to work from home can be a useful tool for businesses in retaining employees.