diff --git a/spring-jdbc/src/main/java/org/springframework/jdbc/core/namedparam/NamedParameterUtils.java b/spring-jdbc/src/main/java/org/springframework/jdbc/core/namedparam/NamedParameterUtils.java
index d1cb75e02d..f0c97dc573 100644
--- a/spring-jdbc/src/main/java/org/springframework/jdbc/core/namedparam/NamedParameterUtils.java
+++ b/spring-jdbc/src/main/java/org/springframework/jdbc/core/namedparam/NamedParameterUtils.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2002-2022 the original author or authors.
+ * Copyright 2002-2023 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -55,7 +55,7 @@ public abstract class NamedParameterUtils {
 	 * Set of characters that qualify as parameter separators,
 	 * indicating that a parameter name in an SQL String has ended.
 	 */
-	private static final String PARAMETER_SEPARATORS = "\"':&,;()|=+-*%/\\<>^]";
+	private static final String PARAMETER_SEPARATORS = "\"':&,;()|=+-*%/\\<>^";
 
 	/**
 	 * An index with separator flags per character code.
@@ -142,16 +142,25 @@ public abstract class NamedParameterUtils {
 					j++;
 				}
 				else {
-					while (j < statement.length && !isParameterSeparator(statement[j])) {
+					boolean paramWithSquareBrackets = false;
+					while (j < statement.length) {
+						c = statement[j];
+						if (isParameterSeparator(c)) {
+							break;
+						}
+						if (c == '[') {
+							paramWithSquareBrackets = true;
+						}
+						else if (c == ']') {
+							if (!paramWithSquareBrackets) {
+								break;
+							}
+							paramWithSquareBrackets = false;
+						}
 						j++;
 					}
 					if (j - i > 1) {
 						parameter = sql.substring(i + 1, j);
-						if (j < statement.length && statement[j] == ']' && parameter.contains("[")) {
-							// preserve end bracket for index/key
-							j++;
-							parameter = sql.substring(i + 1, j);
-						}
 						namedParameterCount = addNewNamedParameter(
 								namedParameters, namedParameterCount, parameter);
 						totalParameterCount = addNamedParameter(
diff --git a/spring-jdbc/src/test/java/org/springframework/jdbc/core/namedparam/NamedParameterUtilsTests.java b/spring-jdbc/src/test/java/org/springframework/jdbc/core/namedparam/NamedParameterUtilsTests.java
index 23c4e6e838..1fcf399bf6 100644
--- a/spring-jdbc/src/test/java/org/springframework/jdbc/core/namedparam/NamedParameterUtilsTests.java
+++ b/spring-jdbc/src/test/java/org/springframework/jdbc/core/namedparam/NamedParameterUtilsTests.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2002-2022 the original author or authors.
+ * Copyright 2002-2023 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -330,6 +330,18 @@ public class NamedParameterUtilsTests {
 		assertThat(sqlToUse).isEqualTo("SELECT ARRAY[?]");
 	}
 
+	@Test  // gh-31596
+	void paramNameWithNestedSquareBrackets() {
+		String sql = "insert into GeneratedAlways (id, first_name, last_name) values " +
+				"(:records[0].id, :records[0].firstName, :records[0].lastName), " +
+				"(:records[1].id, :records[1].firstName, :records[1].lastName)";
+
+		ParsedSql parsedSql = NamedParameterUtils.parseSqlStatement(sql);
+		assertThat(parsedSql.getParameterNames()).containsOnly(
+				"records[0].id", "records[0].firstName", "records[0].lastName",
+				"records[1].id", "records[1].firstName", "records[1].lastName");
+	}
+
 	@Test  // gh-27925
 	void namedParamMapReference() {
 		String sql = "insert into foos (id) values (:headers[id])";
diff --git a/spring-r2dbc/src/main/java/org/springframework/r2dbc/core/NamedParameterUtils.java b/spring-r2dbc/src/main/java/org/springframework/r2dbc/core/NamedParameterUtils.java
index b1b80ea306..306de12f87 100644
--- a/spring-r2dbc/src/main/java/org/springframework/r2dbc/core/NamedParameterUtils.java
+++ b/spring-r2dbc/src/main/java/org/springframework/r2dbc/core/NamedParameterUtils.java
@@ -67,7 +67,7 @@ abstract class NamedParameterUtils {
 	 * Set of characters that qualify as parameter separators,
 	 * indicating that a parameter name in an SQL String has ended.
 	 */
-	private static final String PARAMETER_SEPARATORS = "\"':&,;()|=+-*%/\\<>^]";
+	private static final String PARAMETER_SEPARATORS = "\"':&,;()|=+-*%/\\<>^";
 
 	/**
 	 * An index with separator flags per character code.
@@ -83,12 +83,12 @@ abstract class NamedParameterUtils {
 
 
 	// -------------------------------------------------------------------------
-	// Core methods used by NamedParameterSupport.
+	// Core methods used by NamedParameterExpander
 	// -------------------------------------------------------------------------
 
 	/**
 	 * Parse the SQL statement and locate any placeholders or named parameters.
-	 * Named parameters are substituted for a R2DBC placeholder.
+	 * Named parameters are substituted for an R2DBC placeholder.
 	 * @param sql the SQL statement
 	 * @return the parsed statement, represented as {@link ParsedSql} instance
 	 */
@@ -154,16 +154,25 @@ abstract class NamedParameterUtils {
 					j++;
 				}
 				else {
-					while (j < statement.length && !isParameterSeparator(statement[j])) {
+					boolean paramWithSquareBrackets = false;
+					while (j < statement.length) {
+						c = statement[j];
+						if (isParameterSeparator(c)) {
+							break;
+						}
+						if (c == '[') {
+							paramWithSquareBrackets = true;
+						}
+						else if (c == ']') {
+							if (!paramWithSquareBrackets) {
+								break;
+							}
+							paramWithSquareBrackets = false;
+						}
 						j++;
 					}
 					if (j - i > 1) {
 						parameter = sql.substring(i + 1, j);
-						if (j < statement.length && statement[j] == ']' && parameter.contains("[")) {
-							// preserve end bracket for index/key
-							j++;
-							parameter = sql.substring(i + 1, j);
-						}
 						namedParameterCount = addNewNamedParameter(
 								namedParameters, namedParameterCount, parameter);
 						totalParameterCount = addNamedParameter(
@@ -261,7 +270,7 @@ abstract class NamedParameterUtils {
 
 	/**
 	 * Parse the SQL statement and locate any placeholders or named parameters. Named
-	 * parameters are substituted for a R2DBC placeholder, and any select list is expanded
+	 * parameters are substituted for an R2DBC placeholder, and any select list is expanded
 	 * to the required number of placeholders. Select lists may contain an array of objects,
 	 * and in that case the placeholders will be grouped and enclosed with parentheses.
 	 * This allows for the use of "expression lists" in the SQL statement like: