As the new-generation information technologies such as generative artificial intelligence develop rapidly in the era of digital economy, the innovation and risk management models of financial technologies (hereinafter referred to as fintech) are undergoing profound changes. This study sorts out the theoretical basis and innovation needs of fintech, explores emerging challenges such as algorithm bias and data privacy leakage, and analyzes the evolution of the intelligent service mode and ecosystem of fintech. On this basis, a fintech service system is constructed and a "1-2-6-N" fintech innovation path is proposed, clarifying the direction for fintech development and providing a solid theoretical support for subsequent empirical analyses and system simulation verification. The wide application of fintech in key areas such as risk control, credit assessment, and customer management has not only improved service efficiency, but also brought diversified and complex risks. Moreover, targeted measures are proposed to optimize fintech risk management, including establishing a data-driven dynamic risk-management model, improving the policy guarantee for fintech risk prevention and control, and strengthening the coordinated improvement in risk management capabilities of financial institutions and regulatory technologies. The research shows that the steady development of fintech is inseparable from the synergistic drive of technological innovation and institutional guarantee, and the effective prevention and control of financial risks depends on the in-depth application of regulatory technologies, which can help achieve precise risk control by improving the compliance efficiency of financial institutions. To promote the high-quality development of the financial industry, it is necessary to deepen technological innovation and further expand the global layout of fintech.