Nowadays new businesses are targeting international markets thanks to the existence of the internet, and so, there is a real need for powerful financial systems that make global transactions a pleasant experience.
Unfortunately, the existing payment structures are inadequate.
Ripple has developed a system to work with banks, so that money/value may be moved around as effectively and smoothly just as information is nowadays.
Ripple promises to help banks scale their operations and also generate more revenue.
Ripple promises direct bank to bank settlement
Transactions are processed almost instantly.
Funds movement can be tracked down.
Low transaction cost.
Ripple seems to be a great platform and already banks have warmed up to them, considering that 15 out of 50 top banks are working with Ripple.