Branch Banking Is Dead Say Britian's Big Banks

If Leon Cooperman opened London’s Sunday Telegraph newspaper yesterday, he probably liked what he read.

Cooperman, founder of the $3.4 billion hedge fund Omega Advisors, is one of the largest shareholders of Monitise Plc (LON:MONI) (OTCMKTS:MONIF), a firm that facilitates online banking transactions.

In the Sunday Telegraph the British Bankers’ Association (BBA) revealed they will release a new report that concludes the “era of the traditional bank branch is dead,” a movement that could benefit the stock of Monitise, according to a report from BTIG Research.

The end of branch banking has begun

The BBA is an industry association representing Britain’s five biggest banks and authored a soon to be released report titled “Banking on the Move:...