Guardforce AI Co Ltd (NASDAQ:GFAI) announced that its Guardforce Cash Solutions Security subsidiary in Thailand has secured a two-year contract with a pre-existing client for its end-to-end cash management solutions.
The contract renewal includes Guardforce Digital Machine (GDM), Cash-in-Transit, Cash Processing Centre, and Change Fund services across four locations in the Thai capital, Bangkok.
The company noted in a statement that GDM, the newly added service in the contract, enhances the client’s safety through a security system that protects from potential fraud or theft. It also minimizes work processes and enhances efficiency by eliminating the need for staff to count cash by hand, reducing counting errors. Revenue reports can be generated at any time, from anywhere, it added.
"We have been working with them for many years and are excited to expand the scope of our services,” commented Guardforce AI chief operating officer Kee Yun (Tommy) Kwan.
“We’re the only company in Thailand that provides complete end-to-end cash management solutions. Besides strengthening our position in the market, the relationships we maintain with our clients provide us a solid foundation to expand into other business sectors such as robotics.”
Guardforce AI is a global integrated security solutions provider that is focused on developing robotic solutions and information security services that complement its well-established secured logistics business.
Contact the author at stephen.gunnion@proactiveinvestors.com