Abstract: The key to overcoming the difficulties of SMEs (small and mediumsized enterprises) lies in two aspects: the development of a banking structure that matches the scale of enterprises and the application of Fintech (financial technology) to the digital transformation of banks. By using the   structural data of the banking industry and micro financial data of SMEs in different provinces（20112017）and adopting the Digital Inclusive Financial Index compiled by the Research Center for Digital Finance of Peking University for SYSGMM estimation and regional analysis, we conducted the robustness analysis through static panel test and new data test. We come to the following conclusions. First, small and mediumsized banks should play a dominant role in the banking structure and the influence, measured by the proportion of small and mediumsized banks on the financing of SMEs, takes on an inverted Ushape. Second, the development of Fintech makes small and mediumsized Banks more suitable in serving SMEs while big banks are yet to fully overcome the inherent disadvantage in serving SMEs. Third, from the perspective of Fintech structure, small and mediumsized banks take the edge in expanding the lending coverage while larger banks are more competitive in terms of the extent of usage and the degree of digitalization. Fourth, demand for big banks is higher in the more economically developed East China than in other regions. 

Key words: Key words： Fintech, banking structure, SME financing, GMM Model