Yes, the same system exists in Germany too (confusingly alongside Sofortüberweisung). It's called Giropay and it works the same in that you sign in on your online banking website and the wire transfer is guaranteed by your bank, not a third party.
It's nice and works well. All would be great if it weren't for the fact that it's only offered by some banks (mainly cooperatives I think) and only accepted by some shops. Why the German banks have tried to sue Sofortüberweisung out of existence instead of implementing their own universal system that undercuts Sofortüberweisung's merchant fees (0.9% + €0.25 per transaction) is beyond me.