Meaning of disintermediation

dis•in•ter•me•di•a•tion

Pronunciation: (dis"in-tur-mē"dē-ā'shun), [key]
— n.
  1. the act of removing funds from savings banks and placing them into short-term investments on which the interest-rate yields are higher.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.