Latin America and the Caribbean have experienced the fastest growth in mobile financial services globally, according to a new report the GSMA released Wednesday at the Mobile 360 Latin America conference. 

Combined, the two regions boast a total of 37 mobile money services accounting for approximately 14.9 million registered users across 19 countries. This includes seven new services launched in Brazil, Colombia, the Dominican Republic, Ecuador, Panama and Peru since 2014.

“Great progress has been made in deepening financial inclusion in Latin America and the Caribbean over the last three years,” Sebastian Cabello, head of GSMA Latin America, said in a statement. “The region has seen a major increase in the number of adults with bank accounts, however, approximately half of all adults in LAC still remain unbanked. Mobile money services are a powerful tool for expanding financial access in developing markets and will play a critical role in continuing to build a healthy digital financial ecosystem in the region.”

The regions last year had the fastest growth in the world for new registered mobile money accounts, at a rate of 50 percent, according to a press release about the report. Greater numbers of deployments are also reaching scale, with three mobile money services crossing the 1 million active customer milestone as of April 2015. El Salvador, Honduras and Paraguay are among the top 15 markets globally in terms of the proportion of adults actively using mobile money, according to the report.