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Randy Fernando, a former executive at Marqeta, has introduced Maximum, an AI-driven financial infrastructure platform, following a $30 million seed investment. The startup operates from Florida and focuses on replacing legacy systems within banks with custom agents capable of handling complex workflows. This approach enables banks to streamline their operations, reduce manual errors, and enhance customer experience. The custom agents are designed to learn and adapt to the bank’s specific needs, allowing for a more personalized and efficient service.

Legacy systems vs. AI agents

The new company aims to modernize the banking sector by offering an operating system built on artificial intelligence. This system allows financial institutions to automate processes that traditional software struggles to manage. Fernando explained that the rapid progress of AI is forcing a shift in how financial services operate, noting that banks cannot rely on older providers to keep up with the pace of change. The use of AI-powered agents enables banks to process large amounts of data, identify patterns, and make predictions, thereby improving their decision-making capabilities.

“The advancement of AI is creating a paradigm shift in financial services, and banks can’t keep pace by relying on legacy providers,” Fernando stated. He added that the next generation of technology must do more than maintain records; it needs to monitor, understand, learn, and eventually predict customer needs. This requires a fundamental transformation in the way banks approach technology, from a focus on mere record-keeping to a more proactive and predictive approach. By leveraging AI, banks can gain a deeper understanding of their customers’ behavior, preferences, and needs, enabling them to offer more tailored services and improve customer satisfaction.

According to the funding announcement, the capital will be allocated toward expanding the engineering and operations teams. This support will also aid product development and implementation efforts for the growing client base. Investors in the round include CRV, Pear VC, Restive, Plug and Play Ventures, and Anthemis. The participation of these prominent investors shows the potential of Maximum’s technology to disrupt the traditional banking infrastructure and highlights the growing interest in AI-powered fintech solutions.

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Building on a fintech track record

Maximum represents the third venture for Fernando in the financial technology space. His history includes founding Vault Investing, a wealthtech platform acquired by Acorns in 2017, and Power Finance, a credit card program manager that Marqeta acquired in 2023. After those acquisitions, Fernando took on product leadership roles at the acquiring companies. This experience has equipped him with a deep understanding of the fintech setting and the challenges faced by financial institutions in adopting new technologies. Fernando’s track record demonstrates his ability to identify opportunities for innovation and disruption in the financial services sector.

Before his entrepreneurial ventures, he gained experience at major institutions such as JP Morgan and Azlo. He currently serves on the board of Raise.inc. The technology behind Maximum allows banks to automate complex workflows and gain better visibility into customer activity. By integrating custom agents, the platform offers a way to modernize infrastructure without discarding existing assets immediately. This approach enables banks to leverage their existing investments while still benefiting from the latest advancements in AI and machine learning. The platform’s ability to integrate with existing systems also reduces the risk and complexity associated with implementing new technologies.

This approach reflects a broader trend in fintech where companies seek to bridge the gap between older banking infrastructure and modern AI capabilities. Rather than a complete overhaul, Maximum offers a path for institutions to incorporate intelligent automation into their current frameworks. The $30 million injection provides the resources needed to scale these capabilities and refine the product for diverse banking environments. As the fintech setting continues to evolve, companies like Maximum are poised to play a key role in shaping the future of financial services. The use of AI-powered agents has the potential to transform the banking sector, enabling institutions to operate more efficiently, effectively, and customer-centrically.

The development of Maximum’s technology is a sign to the growing recognition of the importance of AI in financial services. As banks and other financial institutions seek to modernize their operations and improve their customer experience, they are increasingly turning to AI-powered solutions. The investment in Maximum by prominent venture capital firms is a vote of confidence in the potential of AI to transform the banking sector. With its experienced leadership team and cutting-edge technology, Maximum is well-positioned to capitalize on this trend and make a significant impact in the fintech industry.