System and method for confirming instructions over a communication channel

A system for authorising a transaction over a communication channel comprising:

• a memory store of a computer system configured for storing a plurality of associations for an entity, wherein each stored association comprises:
• at least one authentication factor for the entity;
• and
• a specified communication channel of a plurality of communication channels having an endpoint accessible to the entity;
• one or more processors configured for:
• selecting, based on at least one parameter of a proposed transaction, a stored association of the plurality of stored associations, the selected association corresponding to the at least one parameter of the proposed transaction;
• displaying, on a display of an electronic device, a messaging thread in a messaging graphical user interface associated with a specified communication channel of the selected association, wherein the messaging thread comprises a first message to the entity indicative of a proposed transaction;
• receiving, via the specified communication channel of the selected association, an indication that the entity approves the proposed transaction;
• determining, based on the selected association and the first message, at least one authentication factor corresponding to the selected association;
• updating, on the display of the electronic device, the messaging thread displayed on the messaging graphical user interface associated with the specified communication channel of the selected association, wherein the updated messaging thread further comprises a second message indicating authentication is required and a user interface control for enabling the entity to authenticate the proposed transaction;
• receiving, via the specified communication channel of the selected association, information for comparison with the at least one authentication factor for the entity associated with the specified communication channel of the selected association from the endpoint;
• authorising the transaction if the stored at least one authentication factor for the entity associated with the specified communication channel of the selected association matches the information;
• updating, on the display of the electronic device, the messaging thread displayed on the messaging graphical user interface associated with the specified communication channel of the selected association, wherein the updated messaging thread further comprises a confirmation of the authorization and the time at which the transaction was authorized;
• and
• storing, in an audit log, a record of the transaction comprising the first message indicative of the proposed transaction, the at least one parameter of the proposed transaction, the confirmation of the authorization, and the time at which the transaction was authorized.

A non-transitory computer readable medium storing instructions that when executed by a processor cause the processor to:

• store in a memory store coupled to the processor a plurality of associations for an entity, wherein each stored association comprises:
• at least one authentication factor for the entity;
• and
• a specified communication channel of a plurality of communication channels having an endpoint accessible to the entity;
• display, on a display of an electronic device, a messaging thread in a messaging graphical user interface associated with a specified communication channel of the selected association, wherein the messaging thread comprises a first message to the entity indicative of a proposed transaction;
• receive, via the specified communication channel of the selected association, an indication that the entity approves the proposed transaction;
• determine, based on the selected association and the first message, at least one authentication factor corresponding to the selected association;
• update, on the display of the electronic device, the messaging thread displayed on the messaging graphical user interface associated with the specified communication channel of the selected association, wherein the updated messaging thread further comprises a second message indicating authentication is required and a user interface control for enabling the entity to authenticate the proposed transaction;
• receive, via the specified communication channel of the selected association, information for comparison with the at least one authentication factor for the entity associated with the specified communication channel of the selected association;
• authorise the transaction by the processor in response to determining the stored at least one authentication factor for the entity associated with the specified communication channel of the selected association matches the information;
• update, on the display of the electronic device, the messaging thread displayed on the messaging graphical user interface associated with the specified communication channel of the selected association, wherein the updated messaging thread further comprises a confirmation of the authorization and the time at which the transaction was authorized;
• and
• store, in an audit log, a record of the transaction comprising the first message indicative of the proposed transaction, the at least one parameter of the proposed transaction, the confirmation of the authorization, and the time at which the transaction was authorized.