(Reuters) -Jack Henry & Associates reported about a 21% jump in first-quarter profit on Tuesday, helped by resilient demand for its banking technology services.

The Monett, Missouri-based company, which competes against Fiserv and FIS, provides technology and payment processing services to financial institutions, mainly community banks and credit unions.

Small- and mid-sized financial institutions tend to rely more heavily on banking technology providers like Jack Henry, unlike major players such as JPMorgan Chase, which have invested billions in developing proprietary tech stacks.

Jack Henry’s revenue jumped 7.3% to $644.7 million during the first quarter. Revenue from services and support increased 5.7%, while processing rose 9.7%.

Net income was at $144 million, or $1.97 per share,

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