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The Bank of Karabraxos was used by the ultra-wealthy of the galaxy to do financial business. It was the most secure bank in the galaxy, no one stepped foot on the planet without protocols, all movement was monitored, air consumption was regulated and DNA was required at every stage. Therefore extremely valuable items were stored in the bank as well.
The bank made use of The Teller, a creature that could detect guilt. If there was an intruder The Teller would scan the suspect's mind for criminal intent if the creature found criminal intent it would feed on the person's mind. According to Ms Delphox, the person's next of kin would be informed and incarcerated.
The bank was run by Madame Karabraxos, who lived in the private vault. She used clones of herself as administrators. If they displeased her, she would have them incinerated.
The Twelfth Doctor, Clara, Saibra and Psi broke into the bank to free the Teller and his mate. (TV: Time Heist)