In a mixing bowl, combine the sweetened condensed milk and ice cold water. Whisk in the instant vanilla pudding mix until smooth.

Stir in the melted biscoff cookie butter until well combined.

In a separate bowl, whip the heavy whipping cream until stiff peaks form.

Gently fold the whipped cream into the pudding mixture until fully incorporated.

In a serving dish, layer some of the biscoff cookies, followed by a layer of the banana slices, and then a layer of the pudding mixture. Repeat the layers until all ingredients are used, finishing with the pudding on top.

Chill in the refrigerator for at least 3 hours before serving.