A two‐dimensional cross‐correlation technique is described, which allows time‐resolved pump‐and‐probe experiments to be performed with two continuous broadband excitations. The progress of a rate process stimulated by one excitation is investigated by the second. Within the linear response limit the technique is characterized by low excitation power and high response energy. Potential applications are in the study of dynamic mechanical and electrical material properties by spectroscopic methods such as nuclear‐magnetic resonance or Fourier transform infrared spectroscopy, and in opticalT1measurements with a time resolution on the order of the inverse bandwidths of the excitations. A two‐dimensional digital interferometer capable of microsecond resolution is described and used to illustrate the principle of the method with an investigation of a two‐input electronic circuit.