The alliance will enable the customers of both the banks to gain access to a much wider product range and greater accessibility across the country. ``We will be able to bring down the transaction costs by optimally utilising our investments on various products and services,'' according to Amex managing director Piere Grandi.

A key strategy for the American Express Bank's recently launched Personal Financial Services (PFS) is to build partnerships with other quality providers of financial products and services. The tie-up with IDBI Bank is one such significant initiative that will enable American Express Bank to stretch its capital and management resources optimally and shorten the time to market services across the country.

As part of the alliance subject to regulatory approvals, both American Express Bank and IDBI Bank will very soon provide each others customers access to their respectiveATMs across the country for both cash and non-cash transactions.

The alliance with IDBI Bank will extend beyond the ATMs to include marketing of complementary products and services to customers of both banks. ``For instance, we will explore jointly developing payment products as also other innovative convenience services,'' Grandi added.