Is LTC faster than BTC?

I'm curious to know, is Litecoin, LTC, actually faster than Bitcoin, BTC, in terms of transaction speed? I've heard rumors about LTC's supposed speed advantage, but I'm not entirely sure how it compares. Can you explain the difference in transaction speeds between these two cryptocurrencies? Is LTC indeed a faster option for those seeking quicker confirmations and settlements? And if so, what exactly makes LTC faster than BTC?