Andy Schmidt

Research Director - Global Payments, TowerGroup, Inc.

Andy Schmidt is a Research Director in TowerGroup's Global Payments service. He focuses on trends and developments in the payments back office, including payments hubs, mobile payments, service-oriented architecture, payments convergence, standards, and anti-money laundering. Andy has 20 years of experience in the financial services industry as both a banker and a consultant.

Andy joined the Global Payments practice after nearly four years with TowerGroup's Specialized Advisory Group, where he was a Manager focusing on the payments industry. Projects he led include estimating the size of the global check-imaging market and performing an in-depth analysis of debit usage in the Nordic retail banking market.

The Fraud Deficit: Why Deposit Account Fraud Budgets Need to Shrink

Presented by Shirley Inscoe , Andy Schmidt , George Tubin • September 27, 2010

To effectively manage fraud prevention teams, processes and technology, banks and credit unions must establish annual fraud "budgets" to predict, measure and account for losses and other related costs. Explore the impact of thinking of fraud as a budgeted expense which is "under control" as long as the budget is met...