In a large bowl, whisk the vanilla pudding mix with cold milk for about 2 minutes. Set aside in the fridge for 10 minutes to set completely.

In a medium mixing bowl, beat the softened cream cheese until it’s smooth and fluffy. Add the sweetened condensed milk and vanilla extract. Mix until silky and combined. Fold in the prepared vanilla pudding.

In a chilled bowl, beat the heavy cream with powdered sugar and vanilla until soft peaks form. Save half for the topping, then gently fold the other half into the pudding mixture.

In a 9×13 inch glass dish or a trifle bowl, start by layering Nilla Wafers at the bottom. Add a layer of banana slices, followed by a generous layer of the pudding-cream cheese mixture. Repeat these layers until everything is used, finishing with a layer of whipped cream on top.

Sprinkle crushed Nilla Wafers and extra banana slices on top for garnish. Refrigerate for at least 4 hours, or overnight if possible before serving.