In a large mixing bowl, add the softened cream cheese. Using an electric hand mixer, whip it on medium speed for about 2-3 minutes until it reaches a smooth, creamy consistency.

In another bowl, combine the instant banana pudding mix with the whole milk. Whisk vigorously for 2 minutes until well combined and slightly thickened.

Carefully fold the banana pudding mixture into the whipped cream cheese until fully integrated.

Take a 2.5-quart baking dish and line its bottom with a layer of Nilla Wafers.

Spread one-third of the creamy pudding mixture evenly over the layer of Nilla Wafers in the dish.

Layer the sliced bananas over the pudding mixture, aiming for an even coverage.

Repeat the layering process two more times, starting with another layer of Nilla Wafers, followed by more pudding mixture, and topping with more sliced bananas.

Once all layers are assembled, spread the thawed whipped topping evenly on the top layer of bananas.

Cover the baking dish with plastic wrap and place it in the refrigerator. Let it chill for at least 1 hour—preferably 2 hours or even overnight.

If desired, before serving, crush a few Nilla Wafers and sprinkle them on top for an extra crunch.