Heat the olive oil in a large pot or Dutch oven over medium heat. Add the diced onion and sauté for about 5 minutes until it becomes translucent.
Stir in the minced garlic and diced green bell pepper, cooking for another 3-4 minutes until softened.
Add the drained white beans, diced tomatoes with green chilies, vegetable broth, cumin, chili powder, smoked paprika, salt, and pepper. Stir to combine.
Bring the mixture to a simmer, then reduce the heat and let it cook for about 20 minutes, stirring occasionally.
After 20 minutes, use a potato masher or fork to mash a portion of the beans for a creamier texture, leaving some whole for added texture.
Stir in the heavy cream (or coconut cream) and allow it to heat through for an additional 5 minutes. Adjust seasoning if necessary.
Serve the chili hot, garnished with fresh cilantro or parsley and any desired toppings like jalapeños, cheese, sour cream, or avocado.