Abstract: At present, uncertainty has become normal, and the role of banking fintech empowering the development of the real economy is more and more significant. In theory, banking fintech has the function of optimizing the allocation of financial resources and alleviating the negative impact of economic policy uncertainty on enterprises. Based on the data of banking fintech patents and corporate loans from 2013 to 2022 in China, this paper explores how banking fintech adjusts the inhibitory effect of economic policy uncertainty on corporate real investment. The findings show that, firstly, banking fintech could significantly alleviate the inhibitory impact of economic policy uncertainty on corporate investment, and this effect is more significant in the state-owned enterprises and the enterprises with lower digitalization levels or lower financial risks. Secondly, banking fintech primarily exerts a mitigating effect by reducing financial frictions and by decreasing the option waiting value. Thirdly, banking fintech could weaken the negative effect of the economic policy uncertainty on corporate financialization, and further enhance the level of corporate social responsibility bearing. Therefore, the government and the banking sector should actively promote the development of fintech, enhance the banking sector's ability to provide personalized services to enterprises, strengthen the integration of fintech with the real economy, and improve the regulatory system and the risk prevention system.

Key words: economic policy uncertainty, banking fintech, corporate investment, financial friction, real options