Companies can use phone numbers

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Two-Factor Authentication (2FA) / Multi-Factor Authentication (MFA): This is arguably one of the most common and critical uses. By sending a one-time passcode (OTP) via SMS, businesses verify your identity, significantly enhancing account security against unauthorized access.
Password Recovery: If you forget your password, a phone number can slovenia phone number list be used to send a recovery code or link, enabling you to regain access to your account.
Fraud Prevention:to detect and prevent fraudulent activities. For instance, linking a phone number to an account can make it harder for bad actors to create multiple fake accounts.

Identity Verification: In highly regulated industries (e.g., finance, banking), phone numbers, alongside other personal data, can be used as part of a Know Your Customer (KYC) process to verify your identity.