Memory lock system with manipulatable input device and method of operation thereof

A method of operation of an authentication system comprising:

• maintaining a memory lock system invisible to a computer, attached to the memory lock system, until the memory lock system is in an unlocked status, the memory lock system including a body, the body comprising an electronic connector, a controller, a memory that is internal within the body, and a wireless connector, wherein maintaining the memory lock system invisible comprises locking a first channel and a second channel, the first channel between the controller and the memory and the second channel between the controller and the electronic connector, wherein the memory cannot be written to or read from while the memory lock system is locked;
• receiving an input through the wireless connector at the memory lock system, the memory being in a locked status until a correct login credential is received;
• checking, by the controller in the body of the memory lock system, the received input for a login credential to unlock the memory lock system;
• setting the memory of the memory lock system to the unlocked status based on the check for the login credential, the setting the memory lock system to the unlocked status comprising unlocking the first channel and the second channel;
• enabling, when the memory of the memory lock system is in the unlocked status, a communication channel from the electronic connector in the memory lock system and the computer for transferring data between the memory lock system and a financial institution system via the computer;
• providing two-factor authentication for accessing an account in the financial institution system, the correct login credential being a first factor of the two-factor authentication, the memory lock system being a physical component that is a secure token used as a second factor of the two-factor authentication;
• allowing access by the financial institution system to information in the memory lock system based on the memory lock system being the physical component and the correct login credential;
• recognizing, by the financial institution, the information in the memory lock system;
• and
• allowing, by the financial institution, access to the account on the financial institution system based on the recognizing.

A memory lock system comprising:

• a body comprising:
• a memory for storing authentication information;
• an input device for receiving a login credential, the input device being manipulatable by a user for entering the login credential;
• an electronic connector for coupling to a computer;
• a controller for controlling a communication channel from the electronic connector in the memory lock system to the computer;
• a first channel between the controller and the memory;
• a second channel between the controller and the electronic connector,
• a locking function controller for setting an unlocked status to the memory of the memory lock system based on the login credential, the memory being in a locked status until a correct login credential is received via the input device, wherein the first channel and the second channel are disabled when the memory is in the locked status, wherein the memory lock system is invisible to the computer, when attached to the memory lock system, until the memory lock system is in the unlocked status;
• and
• a transfer function controller for providing the authentication information for accessing an account.