The shooting of project to be produced by Robert Graf will begin in spring next year, reported Variety.
Sloane U'Ren, who made her feature directing debut on "Dimensions", will direct from a script by Anotny Neely.
Set in World War II, the film will see Banks in a role of one of the first female war photographers, who gets shot down and stranded on a South Pacific island, where the only other inhabitant is a marooned Japanese soldier.
The movie will focus on them evolving from enemies to reluctant allies in a 30-year battle against the forces of nature and their inescapable circumstances.