In a large mixing bowl, whisk the heavy whipping cream with powdered sugar and vanilla extract until soft peaks form. Set it aside or refrigerate if using later. You can also use pre-made whipped topping for convenience.
Peel and slice the bananas into even rounds, about 1/4-inch thick. To prevent browning, you can lightly toss the slices with a little lemon juice.
In a trifle dish or a large glass bowl, start by layering a portion of the vanilla wafers or cake cubes at the bottom. Follow with a layer of pudding, spreading it evenly to cover the cookies.
Place a layer of banana slices over the pudding, ensuring they are evenly distributed. Top it with a generous dollop of whipped cream, spreading it to create a smooth layer.
Continue layering the wafers or cake, pudding, banana slices, and whipped cream until all the ingredients are used. End with a whipped cream layer for a visually appealing top.
Garnish the top with crushed vanilla wafers, banana slices, or even a drizzle of caramel sauce for extra flavor. Cover the dish with plastic wrap and refrigerate for at least 2 hours (or overnight) to allow the flavors to meld.
When ready to serve, use a large spoon to scoop the trifle into dessert bowls. Serve chilled and watch as your guests savor every bite of this decadent dessert.