Denise Dias

Senior Financial Sector Specialist

Denise Dias works primarily for the Policy Pillar at CGAP. She's specialized in prudential and market conduct financial regulation and supervision with focus on digital finance and payments. She has collaborated with CGAP since 2007, both as a consultant and as a staff member, including as manager for Latin America and the Caribbean.

Denise has over 16 years of experience with policy, regulation and supervision, and has acted as a bank examiner in the Central Bank of Brazil (prudential and market conduct). Prior, she founded and managed an internet marketing business in Brazil, and audited government programs for the Brazilian Ministry of Finance. She also works with other organizations such as the World Bank, GIZ, and Bankable Frontier, and frequently acts as a Program Leader for the Toronto Centre.

Denise holds an MBA in international banking and finance, an MBA in financial sector economics, and a bachelor’s degree in business. She speaks Portuguese and Spanish.

By Denise Dias


Digital Financial Services for Financial Inclusion: Tools for Supervisors

This technical guide provides supervisors with tools and practical guidance on supervision of digital financial services (DFS).

Regulatory Approaches to the Interest Earned on E-Money Float Accounts

What happens to interest earned on float accounts? CGAP believe that electronic money issuers should be allowed – but not required – to distribute some or all of the float interest to their e-money customers.

Moratoria During COVID-19: How Are They Working Out?

The unprecedented use of moratoria during the COVID-19 pandemic provides an opportunity to examine them as a tool for credit market management.

How Can Licensing Regimes Keep Up with Financial Innovation in 2020?

Tech giants, digital banks, e-money issuers, fintech startups — as more diverse players enter the financial services space, they are becoming harder for regulators to classify and license. Here are four ways regulators can respond in 2020 and beyond.

Risk-Based Supervision Is Key to Financial Inclusion in 2020 & Beyond

In developing countries around the world, inadequate supervision risks neutralizing regulatory reforms designed to spark innovation and advance financial inclusion. Here’s what the global development community can do about it.