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Classys, the beginning of global compliance.

Date
2023/12/05
Status
Published
Product
KYB
Category
New Client
Keyword
#global compliance
URL
Image
Classys_ARGOS_EN.png
Writer
Today, we'd like to share an interview with Onsun Cho from the Compliance team at Classys, who utilizes ARGOS's KYB service as part of their "compliance." Here's what she had to say about ARGOS's KYB service.

Q : What kind of company is Classys?

Classys, a dermatology medical device company, develops and produces various beauty aesthetic medical devices such as HIFU and RF, and is a top 20 company by market capitalization on the KOSDAQ market.
Currently, we sells skin aesthetic medical devices for hospitals in more than 70 countries around the world. As a company with 'medical devices' as its core, it develops Well-made products that can be recognized by customers through constant research and continuous investment.
As Classys is expanding into such a global business, it is necessary to continuously make efforts for global compliance, and the compliance team continues to improve management.

Classys official link

Q : How did you decide to implement KYB in ARGOS?

Classys' products are not only available in the domestic(south korea) market, but also in more than 70 countries around the world. We have invested in R&D for a long time and are actively marketing our strategic products in overseas markets. In this process, it is important for us to have a good compliance system to ensure that we can maintain and improve our global compliance.
In this process, we introduced ARGOS to check the many companies that Classys has a business relationship with and screen them for issues.

Q : What's your experience using KYB services?

KYB Process Screen
Contents of KYB Report
The first is "simplify” work.
In fact, the KYB process itself was extensive and complex, and it was not easy to handle with a small number of people.
By standardizing this part and delegating it, I was able to simplify my work.
ARGOS takes care of the cumbersome process in the middle, and the final KYB Report saves me a lot of time.
The second is "indirectness".
In the normal process, the compliance team would request and proceed directly to the customer, which is done for compliance, but I thought it could be seen as a coercive and surveillance process from the perspective of the partner company.
We proceeded to do the standardized 'link' provided by ARGOS in the field, and it seems that there was much less resistance from the partner companies.**

Q : Is there any feedback you would like to give to ARGOS?

I think you do a good job of providing Diagrammatic governance structure of the entity, the respective supporting documents for that structure, and the results of the screening.
However, I think it would be an even better service if you could also provide a follow-up consulting area for the client entity on what we should do based on the screening results,
Of course, I realize that this is not easy because it all depends on the case, but I think you will have a greater competitive advantage if it is well developed.

KYB journey with ARGOS

In this article, we shared an interview with ARGOS KYB service customer, Classys.
If you need KYB verification for global compliance, ARGOS is the solution for you. As a one-stop solution, we can help you make better decisions with our Final KYB Report.
ARGOS will continue to strive to make your authentication journey more convenient and secure.
Join us to make your online world safer and more convenient!
ARGOS will continue to strive to make your authentication journey more convenient and secure. Join us in making your online world safer and more convenient!
Email : sales@argosidentity.com
Mobile : +1 301-708-0090
Website : www.argosidentity.com