Q2’s AI-Driven Enhanced Payee Match Detects 3x More Suspected Fraud For Customers In Its First Year

Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, today announced that Enhanced Payee Match, an AI-driven enhancement to the Centrix Exact/Transaction Management System (ETMS) solution for Positive Pay, has delivered significant results for customers after only a year in the market. Enhanced Payee Match is an upgraded capability that uses machine learning models to detect and prevent check fraud more accurately and efficiently.

Launched in June 2024, Enhanced Payee Match has delivered proven results for customers. Financial institutions using Enhanced Payee Match have detected 3x more suspected fraud on average for accounts protected by the feature compared to accounts without the feature enabled.

“Gulf Coast Bank has been a Q2 customer since 2016 and Centrix ETMS has driven tremendous value for us in our fight against fraud,” said Gulf Coast Bank’s Director of Commercial Services & Digital Payments, VP, Jennifer Dupre. “With Enhanced Payee Match and its advancements with AI, we’ve been able to further fight check fraud and ensure that our customers know we are doing all we can to protect them. Check fraud is not going away, so the fact that Q2 is investing in AI and new tools to further enhance its positive pay solution is critical in helping us stay ahead and protect our customers.”

Enhanced Payee Match uses machine learning-driven typed and hand-written check reading capabilities to accurately detect more sophisticated fraud techniques. In doing so, it is proven to detect more suspected fraud. It also streamlines the acceptance or rejection process for account holders by enabling quicker reviews and providing more detail on why transactions were accepted or declined. The machine learning model continuously evolves based on usage, helping financial institutions more precisely detect fraudulent activity over time.

“As check fraud becomes more sophisticated, our customers need smarter, more adaptive tools to respond,” said Q2’s VP of Product, Fraud Intelligence, Jeff Scott. “We saw a clear opportunity to advance our payee verification capabilities using our own AI and data infrastructure. With Enhanced Payee Match, we’re delivering an adaptable solution that puts customers one step ahead of fraudsters—and keeps account holder protection at the core.”

Centrix ETMS and Enhanced Payee Match are available to both Q2 Digital Banking Platform customers and financial institutions not using the Q2 Digital Banking Platform.

To learn more about Enhanced Payee Match and Centrix ETMS, please click here.

To watch a recent webinar on combating check and ACH fraud, please visit this link.