disintermediation
noun[U]
uk/dɪsˌɪntəmiːdiˈeɪʃən/usFINANCE
thesituationin whichsellersandbuyersoffinancialproductsdealdirectlywith each other,ratherthan usingbanks, etc.:
Theinternetis,potentially, thegreatestforcefor disintermediation thebankshaveeverhad totackle.
Compare
intermediation
COMMERCE
thesituationin whichmanufacturersselldirectlytoconsumers,ratherthan throughstores, etc.:
ThroughoutEurope,governmentsareanticipatingadevastationof theretailsectorworkforcecausedby 'disintermediation': theeliminationof themiddleman.