Financial Promotions
It is important that Knoma's Compliance Team sign-off on the messaging used in your financial promotions
To ensure compliance with FCA guidelines on financial promotions it is important Knoma's identity is not concealed i.e. it needs to be made clear that Knoma is a 3rd party finance partner that is servicing the funded loans.
The content of the promotion should not mislead the customer. As an example, this could be stating that there is a limited time promotion with lower interest-rates available for a short period of time.
Pressure selling is not allowed i.e. there needs to be clear, informative content on Knoma's finance without the coercion to signup for a Knoma loan.
Its also key to ensure the individual could be suitable for a finance offering before introducing finance as an option. For example, if an individual states they are in financial difficulty and can't afford to pay for the course, this would not be an appropriate individual to introduce Knoma's finance to. Whilst, if the individual has expressed they are interested in more flexible payment options to help them, this individual could be suitable (provided they meet Knoma's eligibility criteria).
Last modified 14d ago