Definition - What does Depository mean?
A depository in the context of security is a central place where important data is stored. This data is typically very sensitive, such as medical records, fingerprints or financial records. These records are kept in a secure facility, and ideally very few people can access them except when they need the data for authentication.
Techopedia explains Depository
A depository keeps important data safe by putting it in a central place. An example would be credit monitoring agencies keeping financial records and U.S. state motor vehicle departments keeping identity information. Depositories can also keep biometric information, such as fingerprints, voice prints and iris prints. This information might be stored on hard drives, tapes and CDs.
Because this information is so sensitive, it must be accessed with care. The principle of least privilege would apply ideally. Only people who need this information, such as a credit agency preparing a report, would have access only when they needed it. The fact that all this information is so centralized makes it an attractive target for hackers and thieves.