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English definition of “disintermediation”

disintermediation

noun [U]     /dɪsˌɪntəmiːdiˈeɪʃən/
FINANCE the situation in which sellers and buyers of financial products deal directly with each other, rather than using banks, etc.: The internet is, potentially, the greatest force for disintermediation the banks have ever had to tackle. → Compare intermediation
COMMERCE the situation in which manufacturers sell directly to consumers, rather than through stores, etc.: Throughout Europe, governments are anticipating a devastation of the retail sector workforce caused by 'disintermediation': the elimination of the middleman.
(Definition of disintermediation noun from the Cambridge Business English Dictionary © Cambridge University Press)
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