Guardforce AI's subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited (GFCS), has renewed key contracts with its long-term customer, the Government Savings Bank (GSB) in Thailand. These renewals include two three-year multi-million-dollar contracts for cash center operations and secured logistics services for coins.
GFCS currently supports over 1,000 GSB branches across Thailand, representing more than 95% of GSB’s nationwide network, by providing ATM replenishment, maintenance, and coin services. This extends a decade-long relationship, with one renewal effective from June 1, 2025, through May 31, 2028, marking the fourth consecutive renewal.
The continued trust from a government-backed institution like GSB reinforces Guardforce AI's position as a premier secured logistics provider in Thailand. This stable revenue base is crucial for supporting the company's ongoing investments in AI innovation and its broader strategic growth initiatives.
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