01 -
In a medium bowl, whisk together the ice-cold water and sweetened condensed milk until smooth. In a separate mixing bowl, add instant vanilla pudding mix and gradually whisk in the milk-water mixture. Continue whisking for about 1 minute until the mixture becomes smooth and lump-free. Cover and refrigerate for at least 1 hour, or overnight, until the mixture is set.
02 -
Using an electric mixer, whip the heavy cream on medium speed until it begins to thicken. Increase the speed and continue whipping until stiff peaks form.
03 -
Add the chilled pudding mixture to the whipped cream. Using a whisk or a spatula, gently fold the two mixtures together until fully incorporated and no streaks remain.
04 -
In a trifle bowl or wide glass serving bowl, spread one-quarter of the pudding mixture over the bottom. Add a layer using one-third of the vanilla wafers and cover with sliced bananas from approximately 1 to 1½ bananas. Repeat the layers, alternating pudding, wafers, and bananas, until all components are used, ending with a final layer of pudding.
05 -
Cover the assembled dessert with plastic wrap and refrigerate for 4 to 6 hours. For best results, serve within 12 hours of assembly.