OVANTI LIMITED (ASX: OVT) announced on 20 August 2026 the completion of a strategic review, revealing a decisive global exit from all buy now, pay later (BNPL) activities to concentrate on its established iSentric business. Ovanti Limited provides fintech and digital commerce software solutions and services that enable institutional customers to securely authenticate end users and process banking, purchase and payment transactions. Through its Asian operations, iSentric delivers mobile banking, authentication, digital payments, transaction processing, and enterprise technology services to banking, telecommunications, and corporate clients.
The Board’s strategic review considered the performance, capital requirements, risk profile, and commercial prospects of its BNPL activities, determining that continued investment was not in shareholders’ best interests. Consequently, Ovanti will cease pursuing all BNPL products, operations, and opportunities in every jurisdiction, superseding previously announced plans for a staged relaunch of IOUPAY and myIOU in Asia. The company confirmed that its relevant United States BNPL entity remains subject to Chapter 7 bankruptcy proceedings. Substantial cost reductions have been implemented across the Group, including significant staff and consultant reductions associated with the former US operations, to enhance efficiency.
Ovanti is now sharply focused on expanding its iSentric operations, which generated approximately A$3.58 million in revenue during FY26. The company sees significant growth opportunities for this business in Southeast Asia, with management directed to prioritise immediate revenue-generating opportunities by expanding services to existing customers and securing new institutional clients. Furthermore, Ovanti has engaged external lawyers and is preparing to commence formal legal proceedings against Mr. Peter Maher, the former CEO of its United States BNPL business, seeking recovery of losses, damages, and costs.
