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What's the application process?

Below is a breakdown of the student's application journey from starting an application to beginning their course.

CCR Credit Check

Knoma performs a soft credit check when a student applies for funding with us. We partner with Equifax to conduct the necessary checks. The soft credit check will not leave a visible footprint on a student's credit file, nor will it impact their credit history. The student's application and loan are added to their credit file only once Knoma has funded their loan.
The student will be required to input their First and Last name, DOB and their home address and how long they have resided there.

Identity Verification

Knoma has partnered with market leaders Onfido to perform an identity verification check as the student progresses through the loan application process. These checks include 'Know Your Customer' (KYC) & Anti-Money Laundering Checks.

Income & Expense Data

Knoma uses Open Banking Data to perform an affordability analysis. This check evaluates a learner's income and expenditure and enables Knoma to make an ethical decision as to whether we can approve the student for a loan.
We ask the student to also input the data manually so that we have two reference points.
Reach out to [email protected] if you have any further questions regarding the Knoma Application Process!