Infosys Finacle, a product subsidiary of Infosys, announced Wednesday that Qantas Credit Union, a top Australian Credit Union, has chosen Infosys Finacle to improve its customer's digital experience, as part of their business transformation strategy.

"With fintech innovation high on the agenda in Australia's fiercely competitive banking sector, which is dominated by the 'big four' commercial banks, Qantas Credit Union is leveraging the flexibility of Infosys Finacle's 'software-as-a-service' model to provide its members with the latest banking services, without the significant overhead costs often associated with complete legacy technology upgrade," the company said.

"The strategic partnership with Infosys will enable Qantas Credit Union to exploit the power of digitization to unlock new revenue streams and foster customer loyalty, while enabling the bank to quickly bring new products to market," it said.

Shares of the company gained Rs 7, or 0.64%, to trade at Rs 1,108.50. The total volume of shares traded was 22,278 at the BSE (10.16 a.m., Friday).