When the founders of U-Haul launched the company in 1945, they did so with a simple idea in mind: making it easier for people to do things themselves. This commitment to streamlining what can be cumbersome everyday processes has continued throughout the company’s evolution, and it is now manifesting in innovative ways through its relationship with PNC Bank.

U-Haul is one of the preeminent resources in the country for moving and self-storage needs. Their range of services and products is extensive, including trucks and trailers, packing supplies, self-storage units, portable moving and storage containers, powering an online marketplace where customers can attain moving labor services, hitch installation, propane and more. But in working to make these services available to customers, the company encountered some areas of inefficiency that affected not only back-office operations, but also the end-user experience.

“In our conversations with U-Haul, we spent a lot of time talking about how they were leveraging financial technology from an operations standpoint,” said Mike Rosenberg, a PNC relationship manager. “PNC worked with U-Haul to improve two areas of concern. First, they wanted to improve their check receipt process; they were interested in streamlining the check deposit process and standardizing across their roughly 2,000 locations. We worked with their payments team to leverage their existing technology and integrate PNC’s APIs for check verification and deposit. The second area of concern was around their client experience for those customers who had interruptions with their truck rentals. They wanted to provide a range of instant payment options, 24/7. PNC’s solution allowed them to remit time-sensitive payments to their customers quickly and securely. PNC’s embedded finance solutions provided a logical fit in a variety of ways.”

Some of the API-based solutions that PNC provided include:

  • ePayments API: One of U-Haul Company’s primary concerns had to do with expediting payments to help customers who had experienced a rental truck breakdown. Using PNC’s ePayments API, U-Haul customers can receive funds in real time through Zelle® (and other alternatives) to cover unanticipated roadside assistance costs.
  • Payments API: One of the resources that U-Haul offers is MovingHelp.com, a marketplace for moving labor services. Through PNC’s Payments API, the company can remit electronic payments to service providers quickly and easily.
  • Check Deposit API and Account Verification Services API: When a customer presents a check payment, whether for purchasing moving supplies or renting a truck or storage unit, the Account Verification Services API verifies matching the name on the check with the account, thus reducing the potential for check fraud. The remote check deposit API then captures an image of the check and transmits it to PNC for digital processing. Importantly for U-Haul, these solutions integrate seamlessly with their technology platforms, thus eliminating the need to use separate hardware.

All of these solutions aimed at simplifying processes were the result of close collaboration between PNC and U-Haul. “U-Haul is the definitive do-it-yourself company,” said Travis Hitchings, PNC treasury management officer. “We were able to present these APIs as solutions knowing that their advanced IT team was well equipped to take on plugging them in. We formed a collaborative project team that met regularly to carry out the implementation.”

The end result is a winning outcome for all involved, Hitchings added. “These embedded finance offerings power their client U-Haul app, help U-Haul realize critical efficiencies that help them save on time and cost, and also enhance their customer and employee experience. It’s a true win-win relationship.”

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