The product has been developed in partnership with employee benefit and wellbeing provider Personal Group and Dashly, an AI driven mortgage comparison platform.
Personal Group’s employee benefits platform, Hapi, will host Dashly to develop the software for an online, round the clock mortgage monitoring service that automatically calculates the money that employees could save by switching mortgage provider.
Once an opportunity has been identified, Tenet&You will then provide advice from its team of in-house advisers.
The customer can also continue to use Mortgage Monitor to track rate changes.
On average, the business said, UK homeowners can save £2,620 per annum by switching mortgages, and Mortgage Monitor employees aims to alert them regularly to better deals, freeing up their personal finances for more beneficial uses.
With this service offered on employee benefits app Hapi, the Mortgage Monitor is now available to some 50,000 employees.
Mark Scanlon, CEO of Tenet Group, said: “We are excited to have launched our first digital product, Mortgage Monitor with Personal Group and Dashly.
“Our objective is to provide financial peace of mind.
“We believe combining cutting edge technology like Dashly with Personal Group the pre-eminent employee benefits provider in the UK is an excellent combination with our in-house mortgage brokerage business.
“Looking after your finances, particularly in this challenging environment is paramount and we think this is a clever way of doing just that.
“As a business, we are continuously looking at ways to innovate and deliver digital products and services to add value to our members.”
Ashley Doody, CIO of Personal Group, said: “Helping employees manage their money should form part of a suite of wellbeing services.
“A mortgage is one of the biggest purchases an individual will make.
“Being able to help employees save money on this is critical to employees feeling happy and in control.
“This innovative service will help more people make good financial decisions, supporting overall employee wellbeing.”
Ross Boyd, CEO of Dashly, said: “After a tough year, staff wellbeing should be paramount for bosses – that’s why we’re proud to harness our expertise in fintech to create and deliver Mortgage Monitor, to give more people a better deal on their mortgage, and greater peace of mind.
“Tenet and Personal Group were natural partners for this venture and we’re hugely excited to work with such industry heavyweights.”
