What is a common characteristic of the customer base in Money Service Business?
Understand the Problem
The question is asking about the typical attributes of customers in the Money Service Business sector, specifically which characteristic is most commonly associated with this customer base. It presents multiple-choice options to identify the right characteristic.
Answer
Limited access to traditional banking services; cater to underserved populations.
The final answer is that a common characteristic of the customer base in Money Service Businesses (MSBs) is limited access to traditional banking services. MSBs cater to underserved populations, such as unbanked or underbanked individuals, migrants, or those in remote areas.
Answer for screen readers
The final answer is that a common characteristic of the customer base in Money Service Businesses (MSBs) is limited access to traditional banking services. MSBs cater to underserved populations, such as unbanked or underbanked individuals, migrants, or those in remote areas.
More Information
MSBs fulfill the financial needs of people who find mainstream banking inaccessible, bridging the gap between formal financial services and the needs of these customers.
Sources
- Sanction Scanner - Money Service Business - sanctionscanner.com
- Faisal Khan - Money Services Business (MSB) - faisalkhan.com
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