Driving efficiency with digital solutions

About Lumens 

LUMENS is one of the pioneers of the private hire vehicle (“PHV”) leasing industry, and one of the fastest growing Mobility As A Service (“MaaS”) provider today. Established in 2014, the group has diversified its business over the years. Today, its services include Medical and Escort Transportation (“MET”) and concierge services, as well as the buying, selling, leasing, and financing of vehicles.  

LUMENS is Toyota SG’s exclusive leasing partner with >98%  EV/Hybrid fleet, as well as the strategic partner of Toyota Financial Services, offering vehicle financing and sales. The group has also leveraged technology to improve its services. For instance, another Lumens  business unit, Lylo offers concierge-level services to its 100+ fleet of Toyota Alphards in Singapore.
 

Seeking to maximise efficiency

No stranger to embracing technology, digitalisation has been a key priority for LUMENS as it strives to replace manual processes with more efficient ones. 

DBS has had a long-standing relationship with LUMENS, supporting the company’s growth by providing non-revolving hire purchase lines for their fleet and trade lines for their car purchases, among other facilities.
 

Embracing digital payments

To achieve its goals, LUMENS embraced DBS’s suite of digital solutions. For instance, it adopted DBS’ RAPID system, which uses APIs to facilitate business transactions by integrating real-time processing of payments, receivables, and information enquiries into a company’s workflows. LUMENS deployed RAPID APIs for credit confirmation, to initiate direct debit authorisation (DDA) in real-time, and to provide real-time payments and collections. 

By automating the process, the DDA has been able to reduce approval time by 3 weeks compared to manual or paper approvals.

The group also utilised DBS’ eGIRO solution to streamline the process of topping up the Shell fuel card for drivers from six steps to just one within seconds. With eGIRO integrated into their apps, LUMENS’ drivers no longer need to submit a paper DDA form; thus eliminating paperwork and changing the payment collection frequency to daily. Furthermore, their apps can set up the eGIRO arrangement within minutes. This eliminates the need for manual approval steps, which can sometimes take hours.

LUMENS is also utilising the DBS IDEAL Connect Host-to-Host solution for the seamless daily collection of car rentals – compared to manual uploads and downloads previously - which helps to further boost efficiency.

By implementing DBS digital payments solutions, LUMENS saves on costs and time and reduces its reliance on manpower in a tight labour market. User experience is also enhanced, and the group can initiate collections faster.

SC Chiam, Chief Operating Officer at Lumens, said, “We are delighted to partner with DBS to streamline our operations. With the adoption of DBS’ suite of digital payment solutions, we are able to shorten our payment processes and approval times, enhancing our drivers’ experience with the platform.”