What problem is Ripple trying to solve?

Could you elaborate on the issue Ripple is aiming to address? As a cryptocurrency and finance expert, I'm curious about the specific challenges it faces in the current financial system and how Ripple proposes to revolutionize it. I understand that Ripple's focus is on providing a faster and more efficient payment solution, but I'd like to delve deeper into the intricacies of the problem it's trying to solve. Could you please provide a detailed explanation?