Heat olive oil in a large pot over medium heat. Add chopped onion and cook until translucent, about 5 minutes. Stir in minced garlic, chopped bell peppers, and carrots; cook for another 5 minutes. Add chopped zucchini and cook for 3 minutes. Pour in diced tomatoes with juices, black beans, kidney beans, cumin, smoked paprika, and chili powder. Season with salt and pepper. Bring to a boil, then reduce heat to low and simmer uncovered for 25-30 minutes, stirring occasionally, until vegetables are tender and flavors meld. Serve hot, garnished with cilantro and lime wedges if desired.