Financial Disintermediation: a Change in the Interpretation of the Concept and New Competitors in the Financial Services Market

The article considers the transformation of the meaning of the concept of “financial disintermediation” since its inception. The author highlights the characteristic features of financial disintermediation caused by the emergence of new financial intermediaries - fintech and bigtech companies. The study of the activities of these organizations made it possible to conclude that many of them act as intermediaries between traditional financial institutions and clients, that is, an additional link in the chain of rendering financial services