Systems and methods for efficiently implementing data protection techniques that protect data stored in volatile and non-volatile memory devices from soft errors are described. The error correction overprovisioning for a plurality of memory banks may be reduced by implementing localized single-bit error parity to detect single-bit errors within each memory bank of the plurality of memory banks and then sharing a single-error correcting parity or a single-error correcting and double-error detecting parity (SECDEC) over multiple memory banks or over all of the plurality of memory banks. The single-error correcting code (e.g., a Hamming code) may be generated and shared over the plurality of memory banks such that the single-error correcting code may correct single-bit errors across multiple sets of data stored within the plurality of memory banks that correspond with a particular line or row across all of the plurality of memory banks.