Crush about 2 cups of vanilla wafers in a blender or zip-top bag until finely ground. In a bowl, mix the crushed cookies with ⅓ cup melted butter until well combined. Press this mixture into the bottom of a 9-inch springform pan to form an even crust. Chill in the refrigerator for 30 minutes to set.

In a large mixing bowl, beat 8 ounces of cream cheese with 1 cup of sweetened condensed milk using an electric mixer on medium speed until smooth and creamy—about 3 minutes. Add 1 package (3.4 ounces) of instant banana pudding mix and blend well until thickened.

In a separate bowl, pour 1 cup of heavy whipping cream and whip it until stiff peaks form, approximately 3-4 minutes. Gently fold the whipped cream into the banana pudding mixture.

Pour the creamy filling over the chilled crust and smooth the top with a spatula. Tap the pan gently on the counter to remove air bubbles.

Cover with plastic wrap or a lid, ensuring it's airtight. Chill in the refrigerator for at least 6 hours or overnight for best results.