EXCLUSIVE: Guardforce AI Renews 3-Year Deal With Thailand's Government Savings Bank

Guardforce AI Co GFAI on Monday announced that its subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited (GFCS), has won a three-year renewal with Government Savings Bank (GSB).

GSB one of Thailand’s state-owned banks adn the renewal deal is effective from June 1, 2025, through May 31, 2028.

This fourth consecutive renewal represents a decade-long partnership between the company and GSB.

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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 most of the company’s ATM services currently handled.

With this renewal, Guardforce AI will secure 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, the company said.

In January, GFCS renewed key contracts with its long-time customer GSB in Thailand. Under two three-year multi-million-dollar contracts, GFCS continued to deliver cash center operations and secure logistics services for coins.

Price Action: GFAI stock closed lower by 3.33% at $1.16 Friday.

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