Digital transformation is a necessary pathway for high-quality development of enterprises, which utilizes underlying technologies to update the technological innovation model of enterprises and assists in high-quality innovation. The digitization of enterprises has the characteristics of high risk, long cycle, and high uncertainty, which determines that enterprises have significant limitations in financing. Based on literature review and empirical testing, this paper analyzes whether fintech can promote digitization of enterprises and its mechanisms, providing a new perspective for enterprises to achieve high-quality development and a reference basis for accelerating the formation of a new digital pattern. From 2011-2021, research subjects will include nonfinancial A-share companies in Shanghai and Shenzhen, this paper tests the influence of firms’ utilization of fintech on digitization of enterprises by constructing a two-way fixed effects model. With a mediation effect model, the mechanisms of information quality and enterprise risk-taking in the digital transformation of fintech and enterprises are analyzed. With a moderating effect model, the impact of the business environment on fintech and corporate digital transformation is examined. Research findings show that fintech can facilitate digitization of enterprises, with a temporal spillover effect; multiple effects analysis shows that in the process of fintech influencing the digitization of enterprises, there are partial mediating effects on information quality and enterprise risk-taking level; the business environment has a noticeable positive regulatory effect. Furthermore, based on the heterogeneity analysis of enterprise nature, financial regulatory intensity, and regional characteristics, it is found that among enterprises with higher levels of digitalization, strong financial regulation, and those belonging to the eastern region, fintech has a more useful effect on the digitization of enterprises. Based on theoretical analysis and empirical results, this study provides theoretical reference and empirical guidance for achieving the digitization of enterprises in the context of a digital powerhouse. Firstly, we should strengthen the construction of financial infrastructure, and leverage the technological and informational effects of fintech to elevate firms’ risk-taking capacity, thereby enhancing their willingness and capability to advance digital transformation. Secondly, the government and relevant departments provide a friendly and clean business environment for local enterprises, ensuring that the relationship between government and enterprises does not cross boundaries and become strange. Thirdly, continuously improve the digital and online financial regulatory system to meet the needs of enterprise digital transformation and development. Fourthly, differentiated policies should be adopted for enterprises with different industry and regional characteristics. For technology intensive industries in the eastern region, the government should increase its support; for the central and western regions, the government should strengthen the construction of financial infrastructure and increase the willingness of enterprises to transform.