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disintermediation

dis·in·ter·me·di·a·tion [ dìssintər meedee áysh'n ]


noun 
Definition:
 
1. removal of intermediaries: the elimination of intermediaries such as wholesalers or retailers in business transactions between producers and consumers

2. moving money: the diversion of invested funds from low-yield to higher-yield areas, e.g. from depository accounts to stocks

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