We present a detailed investigation of a novel platform for integration of spintronic memory elements and a photonic network, for future ultrafast and energy-efficient memory. We designed and fabricated magnetic tunnel junction (MTJ) structures based on (Tb/Co)x5 multilayer stack with optically switchable magnetization. Optical single-pulse measurements allowed us to estimate the value of the stray field present in the parallel configuration, which prevents the structure from all-optical switching. We performed numerical calculations based on the Finite Difference Time Domain method and ellipsometry measurements of (Tb/Co)x5 to compute the absorption by the MTJ structure. Simulation results are in good agreement with the experimental measurements, where we implemented a thermal model to estimate effective absorption in the pillar. These estimations showed up to 14% absorption of the incident optical power in 300-nm-wide MTJ. Moreover, we designed and realized an integrated optical network with focusing structures to efficiently guide and couple the light into the MTJs. We show a chain of necessary steps to obtain the threshold value of the switching energy, and our results presenting a path forward for full system integration of optically switchable MRAM technology