Beat the cream cheese

• Place the softened cream cheese in a mixing bowl.
• Beat until completely smooth.

Make the pudding mixture

• Add the sweetened condensed milk, instant vanilla pudding mix, milk and vanilla extract.
• Combine well until smooth and thickened.

Fold in the whipped topping

• Fold in three quarters of the whipped topping until evenly incorporated.

Layer the pudding

• Layer half of the Nilla wafers on the bottom of the dish.
• Add half of the sliced bananas.
• Spread half of the pudding mixture over the bananas.
• Repeat the layers with the remaining wafers, bananas and pudding mixture.

Decorate and chill

• Decorate the top with the reserved whipped topping, Nilla wafers and banana slices.
• Refrigerate until set before serving.