Big Bank Switch

I am stunned by Choice's either complete naievity or stupidity in getting into this game. The idea is great, but having Choice do it is madness.

To think that Choice is risking pretty much all of its reputation on one throw of the dice is remarkable and must reflect a possibly deeper parlous state.

Choice has for decades been the consumer champion. You could argue a group buying site for mortgages may also acheive a similar result. However given the almost infinite number of mortgage permutations available, how Choice or their marketing partner attempts to squeeze them into a single or similar box will be fascinating to see.

Christopher Zinn mentioned a few days ago that one of the reasons for change in marketing strategy has been that their current revenue model has no sustainability. If Choice's current revenue model has no future as stated by Zinn this can only suggest that Choice is becoming increasingly irrelevant to the consumer. I can only see this type of project speeding up that irrelevance.

There are so many risks in this area, so many pitfalls. If you thought Choice really understood, they would have dipped their tow in the water of something lower risk. What is obvious however is if/once they get mortgages off the ground, they'll go to mobile phones, power, gas etc.

I am stunned by Choice's decision. It makes little sense, so much risk, reputational risk that simply cannot be bought back.