Indue, a niche payments and settlement provider with origins among credit unions, has confirmed it is studying options to raise capital outside the sector, with even an initial public offering and Australian Securities Exchange as an "extreme" option.Its current, mutual, shareholders in 2014/15 chipped in A$8.5 million in additional capital, which with retained earnings lifted total equity to $40 million.Indue's profit last year was $3.9 million and its return on equity 11 per cent, a level in excess of many of the mutual ADIs that own it and use its products.Manual Garcia, chief executive of Indue, yesterday said the Brisbane-based firm was "working through a process to put itself in a better position to realise a wider capital base."The board, Garcia said, may be clear on Indue's options toward the end of the year."Indue is growing and we have a requirement to grow in a prudent fashion. We are looking at different ways and options."At the extreme we could IPO or consider a trade sale."In the middle there could be lots of variants. We haven't necessarily made up our mind."