Authentication System and Method

An authentication computing system for providing authentication of a customer of a financial institution making a request related to a customer account of the financial institution from a receiving application through communication channels, the authentication computing system comprising:

• at least one computer processor executing instructions to perform at least the following:
• receiving the request and customer data from the receiving application at an authentication engine through one communication channel;
• accessing an information source storing data in non-transitory memory pertaining to customer activity with respect to the customer account;
• determining a risk level associated with the customer by accessing rule sets for multiple risk levels;
• communicating the risk level from a risk assessment engine to the authentication engine;
• providing authentication criteria for authentication of the customer;
• and
• determining, through the at least one computer processor, whether the customer is sufficiently authenticated based on the risk level, the authentication criteria, and application request activity.

A computer-implemented method for providing authentication of a customer of a financial institution making a request related to a customer account of the financial institution from a receiving application through any one of multiple channels, the method comprising:

• receiving, using at least one processor, the request and customer data from the receiving application at an authentication engine through one communication channel;
• accessing an information source storing data in non-transitory memory pertaining to customer activity with respect to the account;
• determining a risk level associated with the customer by accessing rule sets for multiple risk levels;
• communicating the risk level from a risk assessment engine to the authentication engine;
• providing authentication criteria for authentication of the customer;
• and
• determining, through the at least one computer processor, whether the customer is sufficiently authenticated based on the risk level, the authentication criteria, and application request activity.