The long-term partnership ensures continued secure logistics and cash center operations across over 1,000 GSB branches, reinforcing Guardforce AI’s leadership in Thailand’s secured logistics sector.
Guardforce AI Co., Limited , an integrated security, AI and Robot-as-a-Service (RaaS) provider, announced that Guardforce Cash Solutions Security (Thailand) Company Limited ("GFCS"), the secured logistic subsidiary of Guardforce AI, has renewed key contracts with its long-term customer, the Government Savings Bank (GSB) in Thailand. GSB, a state enterprise under the supervision of the Ministry of Finance, operates as a financial institution guaranteed by the Thai government and has been a trusted partner of Guardforce AI for decades.
Under the renewed agreements, GFCS will continue to deliver cash center operations and secured logistics services for coins under two three-year multi-million-dollar contracts. Building on a longstanding relationship, 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.
“These renewals extend our decade-long relationship with GSB and validate our position as Thailand’s premier secured logistics provider,” said Kelvin Chu, Managing Director at GFCS. “The continued trust of a government-backed institution highlights the reliability and quality of our services on a national level.”
Lei (Olivia) Wang, the Chairwoman and CEO of Guardforce AI, commented, “GSB’s ongoing confidence in Guardforce AI not only reinforces our strong reputation in secure cash management, but also provides a stable revenue stream that supports our future growth and innovation initiatives. As Thailand’s economy continues to grow, we are well-positioned to meet clients’ increasing demand.”