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Guardforce AI Secures Three-Year Renewal with Government Savings Bank in Thailand.
ByAinvest
Monday, Jun 23, 2025 8:03 am ET1min read
Guardforce AI Co. has secured a three-year renewal with Government Savings Bank (GSB) in Thailand, extending their decade-long partnership. GFCS, a subsidiary of Guardforce AI, will continue to provide cash-in-transit and maintenance services for GSB's ATM network across upcountry regions. This renewal reinforces the company's upcountry strategy in the secured logistics segment.
Guardforce AI Co., Limited (GFAI) has announced a significant milestone in its decade-long partnership with Government Savings Bank (GSB) in Thailand. The company's subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited (GFCS), has secured a three-year renewal with GSB, effective from June 1, 2025, through May 31, 2028 [1].Under the renewed agreement, GFCS will continue to provide secure and efficient cash-in-transit and maintenance services for GSB's ATM network across Thailand's upcountry regions. This renewal represents a continuation of the company's upcountry strategy in the secured logistics segment and underscores its ability to meet the highest standards of service required by a leading government-owned bank [2].
The extension of the partnership provides GFAI with stable and predictable revenue streams over the next three years. This financial stability will enable the company to invest in innovation and expand its AI-driven solutions. "We are honored to continue our partnership with GSB, which has been built on mutual trust and a shared commitment to excellence," said Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI [2].
Guardforce AI Co., Limited is an integrated solution provider specializing in security solutions and focusing on implementing AI and robotics solutions to improve business operational efficiency and sales and marketing processes, particularly for the retail and travel industry in the Asia Pacific [2].
References:
[1] https://www.benzinga.com/markets/small-cap/25/06/46048973/exclusive-guardforce-ai-renews-3-year-deal-with-thailands-government-savings-bank
[2] https://www.marketscreener.com/quote/stock/GUARDFORCE-AI-CO-LIMITED-117540555/news/Guardforce-AI-Strengthens-Decade-Long-Client-Relationships-by-Securing-Long-term-Contract-with-Gover-50308577/
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