The　rise　of　fintech　in　the　past　decade　has　received　growing　scholarly　attention.　Does　the　application　of　fintech　promote　innovation　efficiency　at　the　regional　level?　Will　fintech　heterogeneously　affect　a　different　stage　of　innovation?　Motivated　by　these　questions,　this　paper　studies　the　impact　of　fintech　on　innovation　efficiency　and　the　spatial　spillover　effects　of　fintech　by　using　regional-level　data　on　China.　We　employ　a　two-stage　DEA　method　to　evaluate　the　innovation　efficiency,　namely,　the　R&D　efficiency　and　launching　efficiency,　of　different　innovation　processes.　We　conduct　an　empirical　test　by　using　the　spatial　Durbin　model　in　combination　with　the　fintech　development　index.　The　results　suggest　that　fintech　promotes　overall　innovation　efficiency　and　launching　efficiency　but　less　affects　R&D　efficiency.　Fintech　also　exhibits　adverse　spatial　spillover　effects　on　the　surrounding　regions　in　the　launching　stage.　We　further　studied　the　effects　of　the　breadth　and　depth　of　fintech　on　innovation　and　the　impacts　on　different　types　of　patents.　The　results　show　a　heterogeneous　impact　of　fintech,　which　generates　regional　development　policy　implications　in　the　digital　era.