In a large bowl, add the sweetened condensed milk and water. Mix with an electric mixer on medium until fully combined (approximately 1 minute). Add the pudding mix and mix over medium for around 2 minutes. Cover the pudding mixture and refrigerate for 3-4 hours. The mixture needs to be thick and set.

In a separate large bowl, whip the heavy cream with an electric mixture over medium high to high until stiff peaks form. Gently fold the whipped cream into the set pudding mixture until fully combined.

To assemble dessert, use a 4 to a 5-quart dish or trifle dish.

Layer the bottom of the dish with 1/3 of the vanilla wafers covering the bottom. Layer 1/3 of the sliced bananas over the vanilla wafers, Layer 1/3 of the pudding/whipped cream mixture over the bananas. (Be sure to cover all of the bananas to help reduce browning.) Repeat 2 more times to make 3 layers, finishing with the pudding/whipped cream mixture on top and a few vanilla wafers & crumbs along with some banana slices for the top.

Cover and refrigerate for at least 4 hours.

Serve and enjoy!