Template matching is one of the areas of profound interests in recent times. It has turned out to be a revolution in the field of computer vision. Template matching provides a new dimension into the image-processing capabilities, although there have been many attempts to resolve different issues in this field there have always been newer concepts emerging in this ever challenging field. In this study, various techniques are discussed and a new FPGA based spectral architecture is proposed to achieve a fast similarity measure between template and input image.