The successful functioning of a country's economic system is conditioned by the possibility of the flow of funds to the places where they are needed in order to increase investment activity and competitiveness of the economy. In today's financial system, there are a large number of different subjects of financial intermediation that can be classified into several groups depending on their activities and methods of financing. The purpose of this paper is to define the meaning of the term financial intermediation, to present its historical development and the key subjects or institutions that deal with it. In addition to the traditional subjects of financial intermediation, some new subjects were presented as well as some new technologies used in this field. The paper shows that the changes in the observed area, although increasingly intense, have not yet significantly endangered the position of traditionally dominant entities in the financial system. By researching the field in which the paper deals, it can be concluded that new trends and emerging entities that are emerging in the field of finance change the established practices and open space for future research related to their impact on the financial system. The increasing development of technology and globalization processes affects all business models and business entities and requires them to adapt to emerging trends in order to maintain their position in the market. By studying the topic of the paper, basic guidelines can be obtained related to changes that are happening in the field of financial intermediation and which entities should pay attention to in the future when looking at this area.