A system and method of sharing testing components for multiple embedded memories and the memory system incorporating the same are disclosed. The memory system includes multiple test controllers, multiple interface devices, a main controller, and a serial interface. The main controller is used for initializing testing of each of the dissimilar memory groups using a serial interface and local test controllers. The memory system results in reduced routing congestion and faster testing of plurality of dissimilar memories. The present disclosure further provides a programmable shared built in self-testing (BIST) architecture utilizing globally asynchronous and locally synchronous (GALS) methodology for testing multiple memories. The built in self-test (BIST) architecture includes a programmable master controller, multiple memory wrappers, and an interface. The interface can be a globally asynchronous and locally synchronous (GALS) interface.