In this episode of Business Reporter’s Best of British Business, we explore the power – and pitfalls – of data-driven decision-making with David Harding from MagicOrange.

MagicOrange, a leader in IT spend optimisation, believes every CIO should have full transparency in their IT budget, enabling smarter investment and divestment decisions. But can business efficiency truly be reduced to numbers? And how do we ensure data-driven insights are trustworthy?

David takes us on a journey through the origins of MagicOrange, and how its role in helping enterprises uncover the real cost of their technology investments has evolved over time. He explains why cost transparency beyond IT is critical, how unit economics can transform financial decision-making, and why AI is becoming the CFO’s smartest assistant.

If you're looking to optimise IT spend and drive profitability, this is the episode you can’t afford to miss.

Annuities are often perceived as unattractive, but industry professionals are taking more and more notice of them. The US market is robust and growing, and much of this success is being enabled by modern technology.

In 2023, the US annuity market saw almost $400 billion in sales, a record high for the second year in a row – growing from only $260 billion in 2016. Products are greatly improved, and technology solutions are available to assist with the complexities.

Unpacking this growth further, fixed-rate annuities are taking market share from variable annuities, but this is to be expected given market performance and higher interest rates. The more interesting trend is the registered index linked annuities (RILA) market, which has grown its share since 2019 to over 14 per cent, and is expected to continue gaining.

To learn more about FinMason’s advanced modular technology solutions, visit www.finmason.com.

What ‌a full-scale biometric payment card is – what it enables, how it works.

Biometric authentication is a game-changer because it couples one-touch convenience with unrivalled security.

By necessity, policymakers in Washington DC have spent much of the past two years focused on addressing short-term crises. The unprecedented scale of Covid’s economic impact required this narrow lens, as the government rapidly enacted stimulus programs and lending facilities to mitigate the pandemic’s financial effects, particularly for the small business community – the segment of the US economy that employs more Americans than any other.

The rapid advancement of artificial intelligence (AI) technologies has transformed business operations across the globe. From customer service chatbots to adaptive cyber-security, the applications of AI are limitless. AI can help minimise paperwork, reduce cost and drive better business decisions by increasing the predictive accuracy of future outcomes and mitigating the cognitive biases inherent in human decision-making.

While the jury’s still out on whether the US economy is officially in a recession, there’s no doubt that consumers are feeling the strain of record-high inflation. But by no means is this slowing down the still burgeoning buy now, pay later (BNPL) market, which is increasingly transitioning from big-ticket splurges to more everyday purchases, easing the pain at the petrol pump and the grocery store.

In the final episode of our Open Banking and Klarna Kosma series, we're looking to the future of finance. Discover how the Open Banking movement is evolving into open finance and what that means for consumers and businesses. Get a glimpse of the innovative financial solutions and services on the horizon, and learn how Klarna Kosma is paving the way. Join us for a thought-provoking discussion on the future of finance and the role of Open Banking.