In a large mixing bowl, combine the instant pudding and milk. Whisk them together for about two minutes until the mixture thickens and becomes smooth.

In a separate bowl, beat the softened Neufchatel cheese and peanut butter together using an electric mixer on medium speed.

Add the sweetened condensed milk to the peanut butter mixture. Continue mixing until all ingredients are well combined.

Carefully incorporate the thickened pudding mixture into the peanut butter mixture.

Gently fold in one-third of the Cool Whip into the filling mixture, followed by the remaining Cool Whip.

Slice the bananas into thin rounds and layer them on the bottom of the graham cracker pie crust.

Carefully pour the creamy filling over the banana layer in the pie crust.

Refrigerate the pie for at least 15-30 minutes to allow it to set properly.

Once chilled, slice the pie and serve it with an extra dollop of Cool Whip on top.