Guardforce AI Strengthens Decade-Long Client Relationships by Securing Long-term Contract with Government Savings Bank
NEW YORK, NY, June 23, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (NASDAQ:GFAI, GFAIW)) ("Guardforce AI" or the "Company"), a global integrated security solutions provider specializing in secured logistics, AI, and Robot-as-a-Service (RaaS), today announced that its subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited ("GFCS"), has secured a three-year renewal with Government Savings Bank (GSB), one of Thailand's largest state-owned banks, effective from June 1, 2025, through May 31, 2028.
This fourth consecutive renewal represents a decade-long partnership between the Company and GSB. 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, which covers the majority of the ATM services currently handled by the Company. This renewal further consolidates the Company's upcountry strategy in the secured logistics segment and underscores our proven ability to consistently meet the highest standards of service required by a leading government-owned bank.
With this renewal, Guardforce AI secures stable and predictable revenue streams over the next three years, providing the Company with a solid financial foundation 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. "From a business expansion standpoint, this decade-long relationship provides a solid foundation for future growth and advancing innovation in future AI-driven solutions."
About Guardforce AI Co., Ltd.
Guardforce AI Co., Limited (NASDAQ:GFAI) 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 process, especially for the retail and travel industry in the Asia Pacific. Drawing on 42 years' operational experience, a premiere long-term customer base, and well-established sales channels, Guardforce AI has built a robust foundation towards the next level of elevating tailored AI solutions and expanding globally. For more information, visit www.guardforceai.com Twitter: @Guardforceai.
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Investor Relations:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
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Guardforce AI Corporate Communications:
Hu Yu
Email: [email protected]
