This paper investigated how fintech practices influence risk management effectiveness, with operational strategy serving as a strategic bridge, in the research of the Saudi Stock Exchange (Tadawul). The researcher adopted a quantitative research design based on Partial Least Squares Structural Equation Modeling (PLS-SEM). Data was collected from 370 managers working in financial and investment institutions listed under Tadawul. The study examined how fintech practices, particularly digital payment infrastructure, performance analytics, and training programs, contribute to strengthening risk management effectiveness through their role in supporting operational strategy. Structural equation modeling was employed to test the hypothesized relationships and to assess the bridging role of operational strategy. The findings indicate that fintech practices improve risk management effectiveness by enhancing operational agility, strengthening data-driven decision-making, and enabling proactive identification of financial and operational risks. Moreover, operational strategy was found to play a central bridging role by translating fintech practices into organized strategic and operational improvements that reinforce institutional resilience and strengthen control mechanisms. The findings also show that fintech practices serve as effective effectiveness of risk management effectiveness in the digital age by supporting alignment between technological transformation and strategic operational capabilities. To enhance the resilience of institutions within Tadawul, the study recommends that listed institutions increase investment in fintech infrastructure, digital workforce development, and operational optimization systems in order to maintain sustainable financial performance.