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The Australian Competitors and Client Fee (ACCC) has granted clearance to Cuscal’s proposed acquisition of fee facilitation provider Indue, stating that the merger shouldn’t be anticipated to considerably cut back competitors within the sector.
This choice brings the Australian funds service supplier nearer to buying 100% of the shares in Indue, with the one remaining hurdle being approval from the Australian Prudential Regulation Authority (APRA).
The transaction is anticipated to occur previous to the 12 months’s finish.
Cuscal has been suggested by Gilbert + Tobin on the ACCC clearance course of.
In its evaluation, the ACCC examined the aggressive dynamics between Cuscal and Indue out there for fee facilitation providers, that are essential for smaller banking establishments and fintech firms.
These providers allow such organisations to supply numerous fee choices to their clients.
The inquiry by the ACCC concluded that each Cuscal and Indue present a complete suite of fee facilitation choices than many different rivals. Nonetheless, it was decided that almost all of purchasers have the flexibleness to satisfy their fee service wants from a variety of suppliers.
Throughout its assessment, the ACCC sought suggestions from 30 small in addition to mutual banks. One other issue that influenced the choice was the pattern in direction of the digitisation of funds, which might doubtlessly lower the prices of transitioning fee facilitation suppliers and minimise entry boundaries for brand spanking new rivals.
ACCC commissioner Dr Philip Williams stated: “Consolidation amongst smaller banks has diminished the variety of clients Cuscal and Indue compete for.”
“Fee facilitation providers require vital funding. Attaining higher scale can help suppliers in making the mandatory investments to maintain up with developments in expertise, and buyer and regulatory necessities.”
In August 2025, Cuscal managing director Craig Kennedy introduced the corporate’s intention to amass Indue, contingent on regulatory approvals.
At the moment, Cuscal famous that the acquisition is predicted to deliver numerous advantages, together with product and repair choices and operational efficiencies.
Moreover, the merger is ready to boost resilience in areas resembling cybersecurity, capital, capabilities, and fraud monitoring, equipping the mixed entity to satisfy growing regulatory calls for.
The acquisition may even improve funding capability, which is anticipated to foster innovation and useful resource allocation for continued service supply into the long run.
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