In a large pot, heat the olive oil over medium heat. Once the oil is hot, add the diced onion and bell pepper. Sauté for approximately 5 minutes, or until the vegetables are softened. Add the minced garlic and continue to cook for an additional minute, stirring frequently until the garlic is fragrant.
Add the shredded chicken, rinsed black beans, drained corn, diced tomatoes (with their juices), chicken broth, chili powder, ground cumin, smoked paprika, and a pinch of salt and pepper. Mix all ingredients together thoroughly and bring the mixture to a gentle boil.
Once the soup is boiling, reduce the heat to low. Slowly stir in the softened cream cheese, ensuring it completely dissolves into the soup, creating a rich and creamy texture.
Gradually sprinkle in the shredded cheddar cheese, stirring continuously until the cheese is fully melted and the soup is smooth and well combined.
Taste the soup and adjust the seasoning with additional salt and pepper if necessary. Let the soup simmer for an extra 5-10 minutes, allowing the flavors to meld and everything to heat through thoroughly.
Serve the soup hot, garnished with a handful of fresh cilantro leaves and a lime wedge on the side for added zest.
Notes
Consider serving the soup in colorful bowls for a vibrant touch. A sprinkle of extra cheddar cheese over the top and a light drizzle of sour cream can enhance both flavor and appearance.