This work presents a new flexible parameterizable architecture for image and video processing with reduced latency and memory requirements, supporting a variable input resolution. The proposed architecture is optimized for feature detection, more specifically, the Canny edge detector and the Harris corner detector. The architecture contains neighborhood extractors and threshold operators that can be parameterized at runtime. Also, algorithm simplifications are employed to reduce mathematical complexity, memory requirements, and latency without losing reliability. Furthermore, we present the proposed architecture implementation on an FPGA-based platform and its analogous optimized implementation on a GPU-based architecture for comparison. A performance analysis of the FPGA and the GPU implementations, and an extra CPU reference implementation, shows the competitive throughput of the proposed architecture even at a much lower clock frequency than those of the GPU and the CPU. Also, the results show a clear advantage of the proposed architecture in terms of power consumption and maintain a reliable performance with noisy images, low latency and memory requirements.