Heat olive oil in a large pot over medium heat.
Add chopped onion and sauté until translucent, about 5 minutes.
Add minced garlic and chopped bell pepper, cook for another 5 minutes.
Add diced tomatoes, kidney beans, black beans, corn, chili powder, cumin, paprika, salt, and black pepper. Stir well to combine.
Pour in vegetable broth and bring the mixture to a boil.
Reduce heat to low and let simmer for 20 minutes, stirring occasionally.
Serve hot, garnished with your favorite toppings.