Much of the disintermediation experienced by modern financial intermediaries has occurred due to financial innovation within the global financial system.

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Disintermediation, where borrowers bypass traditional financial intermediaries like banks to find alternative funding sources, has indeed increased due to financial innovations such as peer-to-peer lending platforms, crowdfunding, and other digital financial services within the global financial system. These innovations provide more direct access to capital for borrowers and investment opportunities for lenders.

Much of the Disintermediation Experienced by Modern Financial Intermediaries Has