Whisk in the milk into the pudding mix until mixed thoroughly.
Add the vanilla extract, condensed milk and heavy cream. Mix well and set aside to thicken.
Combine the sliced bananas with lemon juice and set aside.
Whip the cream with the confectioners sugar until soft peaks form.
Spread some pudding on the bottom of the individual glasses or in a large trifle bowl. Top with a layer of vanilla wafers and a layer of banana slices. Continue layering with custard, wafers and banana.
Top the banana pudding with the whipped cream. Serve right away or chill for couple hours.