The purpose of this research is to investigate the possible correlation between quality tools and innovation generation in companies nowadays, with particular interest in the financial sector, governed by strong regulation. Quality Management is one of the main axes of modern management, a movement that had its peak in the '80s and '90s. Due to the high competitiveness of markets and the increasing use of technologies in the development of new businesses and products, innovation and quality have become concerns of the organizations that aim to obtain a sustainable competitive edge. In this way, a bibliographic review allied to the case study was conducted in the retail banking industry, followed by comparative analysis in order to deepen the interpretation of the collected variables. As a conclusion, there is a convergence towards a positive correlation between quality tools and innovation processes underpinning the discussion the measurement of competitive advantage from the perspective of quality and innovation in the banking industry.