Redwood Empire Ban has licensed its internally developed cash management software to Pacific Western Bank.
Under the terms of the contract, Pacific Western, a $1.1 billion-asset bank based in San Jose, Calif., will market the software to its corporate customers. Redwood, a $400 million-asset banking company based in Santa Rosa, Calif., will receive a percentage of the monthly revenue. Redwood said it plans to expand marketing of its electronic banking software, which is developed by its automation subsidiary. Redwood has licensed previous versions of the software.