System and method for processing video information are disclosed and may include receiving, at a processing device, packetized digital video from a sensor. The packetized digital video may be decoded within the processing device, into source video formatted frames. The decoding may use at least one shared library function call. The source video formatted frames may be converted within the processing device into destination video formatted frames. The destination video formatted frames may be transferred to a video processing system. The destination video formatted frames may be stored, prior to the transferring, in shared memory within the processing device. The storing of the destination video formatted frames may include allocating at least one memory block of the shared memory, and associating the allocated at least one memory block with a memory pointer.