In a large bowl, pour cold milk. Add instant vanilla pudding mix. Whisk for two minutes until thick. Add sweetened condensed milk. Mix again until smooth and creamy.

In another bowl, beat softened cream cheese using a hand mixer. Mix until smooth and fluffy. There should be no lumps. This makes the pudding rich and creamy.

Add the cream cheese mixture into the pudding bowl. Mix slowly until fully combined. Fold in whipped topping gently using a spatula. Do not overmix to keep it light.

Peel the bananas carefully. Slice them into thin, even rounds. Try to use ripe but firm bananas. They should be sweet but not mushy.

In a 9x13 inch dish, place a single layer of vanilla wafer cookies. Cover the bottom completely. Break some cookies if needed to fill small gaps.

Add a layer of sliced bananas over the cookies. Spread half of the pudding mixture on top. Smooth it evenly with a spatula so every bite has flavor.

Add another layer of cookies over the cream. Then add more bananas. Spread the remaining pudding mixture evenly on top. Smooth the surface gently.

Cover the dish with plastic wrap. Place it in the fridge for at least four hours. Overnight chilling gives the best texture and flavor.