A system and method for making available on a dynamic basis a large library of different firmware processing algorithms to each DSP processor engine of a DSP processor array is disclosed. A master DSP engine continuously broadcasts firmware algorithms used in processing a number of types of data from an attached memory to service DSP engines over the channelized serial bus. The DSP array receives PCM data from multiplexed lines of a public switched telephone network and packetized data from an Internet Protocol (IP) network, then each service DSP engine determines a firmware algorithm required to process the type of data received. The service DSP engine processes the received data using that firmware algorithm.