Standardization in the field of core banking, which covers the basic banking functions of customer information and CtoB interfaces, deposit taking, lending, account maintenance and all current and future international standards relative to all payment instruments from payment initiation through to clearing of payment instructions and reporting, including the financial operations via card and other digital media used for emerging electronic financial services.

The scope covers content, usage, interchange of high value as well as retail operations. It excludes security solutions, which are dealt with by the SC2.

Lending includes the specialist lending associated with Trade Finance and Treasury operations through to consumer lending in all its forms or lending associated with credit cards. It does not include lending activities linked to securities, as covered by SC4.