Long Arc Capital, a private equity firm, completed the acquisition of a majority stake in TagPay, a provider of a scalable and open Core Banking System technology, for €25m. "The regulatory evolution, the new expectations of end customers and the disruption in financial services makes the modernization of core banking systems a necessity. Today, thanks to its open and agile architecture system, TagPay is the premier solution to address these challenges. We are very happy to have the support of Long Arc Capital, whose financial and operational support will allow us to grow rapidly over the next 3 years," Yves Eonnet, TagPay CEO.