In a medium saucepan, combine milk and instant pudding mix. Whisk constantly over medium heat until thickened. Remove from heat and let it cool slightly.

Stir in sweetened condensed milk and softened cream cheese. Mix until smooth and creamy. This creates a rich, sweet and velvety custard base.

Peel and slice bananas evenly. This ensures consistent layers. Arrange them over the first layer of custard in your dish.

Place a layer of vanilla wafer cookies over the custard and banana layer. Press gently to make an even base for the next custard layer.

Pour another layer of custard over the wafers. Spread evenly with a spatula. Repeat layers if desired, finishing with custard on top.

In a mixing bowl, beat heavy whipping cream, powdered sugar, and vanilla extract until soft peaks form. This will be your topping.

Spread whipped cream evenly over the top of the pudding. Garnish with crushed vanilla wafers or banana slices for presentation.

Cover the pudding and chill in the fridge for at least 2 hours. Chilling helps the flavors meld and makes serving easier.

Scoop into bowls or slices for serving. Enjoy creamy, layered banana pudding that is both decadent and refreshing.