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We present a new method to accelerate the process of matched filtering (template matching) of seismic waveforms by efficient calculation of (cross‐) correlation coefficients. The cross‐correlation method is commonly used to analyze seismic data, for example, to detect repeating or similar seismic waveform signals, earthquake swarms, foreshocks, aftershocks, low‐frequency earthquakes (LFEs), and nonvolcanic tremor. Recent growth in the density and coverage of seismic instrumentation demands fast and accurate methods to analyze the corresponding large volumes of data generated. Historically, there are two approaches used to perform matched filtering; one using the time domain and the other the frequency domain. Recent studies reveal that time domain matched filtering is memory efficient and frequency domain matched filtering is time efficient, assuming the same amount of computational resources …