Why the Kyckr (ASX:KYK) share price surged 19% today

The Kyckr Ltd (ASX: KYK) share price was rocketing this afternoon after the company announced a partnership with BAE Systems Applied Intelligence.

At the close of trading, the regulatory technology company’s shares were up 18.9%, trading at 6.9 cents.

Let’s take a closer look at the new alliance.

What did Kyckr announce?

In today’s release, Kyckr advised that it has partnered with BAE Systems to address anti-money laundering and compliance issues posed by regulated firms. The company aims to deliver reliable and efficient know-your-customer (KYC) and customer due diligence (CDD) solutions.

Kyckr believes the alliance will empower mutual customers to benefit from its solutions. Its network spans more than 180 registries and…