This paper describes a hardware/software strategy for the effective and efficient management of several distributed Memory Built-In Self-Test (MBIST) units orchestrated by a single CPU to enable the parallel testing of several memory banks. Experimental testing of the implementation on an Infineon chip shows up to a 25% test time reduction compared to traditional strategies, especially in cases for which there are a large number of failures affecting several banks. Additionally, it permits balanced failure collection from different banks in cases for which there are limitations to the storage of failure-related information.