Welcome to Keel Money: The Evolution of Bundle
By The Keel Team
For the past 12 months, we've been working behind the scenes to build a better way for Australians to manage their money. We believed there was a better way for people to manage their money, and still enjoy the things they love. You may have known us early on as Bundle. Today, we are excited to officially introduce you to our new identity: Keel Money.
Why "Keel"?
In the middle of a storm, you don't see the most important part of a ship. It sits deep below the waterline. It's a heavy, weighted beam called the Keel. Its job is simple but vital: it provides the counterweight that keeps the ship from capsizing in rough weather. It provides stability.
That is exactly why we chose this name. The Australian household budget is currently facing "rough weather." With the rising cost of living and irregular bills hitting at the worst possible times, most people feel like they are tilting from one payday to the next.
Keel is here to keep your financial ship upright.
The Core Truth: Tackling Bill Shock
Your income is typically predictable and you receive it weekly, fortnightly or monthly. But your expenses are lumpy and are often due on different days each week, fortnight, month, quarter or even year! One month is as expected; the next month, a quarterly electricity bill, a car registration, and council rates all land in the same week. This is Bill Shock, and it's a leading cause of financial stress.
The Keel solution is "Bill Smoothing."
We've built an engine that looks at your upcoming expenses and calculates one predictable but Smart Contribution, that is collected inline with your pay cycle.
- Forward-Looking: Keel looks at what is actually due and regularly collects smaller portions of each bill, so you aren't caught off guard by "ghost bills." Once a bill is paid, Keel will start collection for the next due date.
- Dynamic Adjustments: Your Smart Contribution is calculated based on your upcoming obligations. If your bills change, Keel adjusts your contribution and updates you to help ensure you stay on track.
- Automated Coordination: Funds are paid via PayTo one business day after you get paid, and Keel handles the individual BPAY and NPP payments for you based on the bill data provided.
What Changes for You?
If you've been following our journey as Bundle, our mission remains the same: Peace of Mind. The name Keel simply reflects our commitment to being the invisible, weighted force that keeps your finances steady. We aren't a bank, and we aren't a lender. Importantly, we are currently in our pre-launch phase. Keel Money (Bundle Services Pty Ltd) is not yet providing financial services. All features and launch dates are subject to regulatory approval.
The voyage is just beginning. Welcome to Keel.