Word of the day

Disintermediation – reduction in the use of intermediaries between producers and consumers; the removal of intermediaries in economics from a supply chain; cutting out the middlemen in connection with a transaction or a series of transactions; the withdrawal of funds from intermediary financial institutions, such as banks and savings and loan associations, to invest them directly; the process that gives the user or the consumer direct access to information that otherwise would require a mediator such as a salesperson.