Heat the olive oil in a Dutch oven over medium-high heat. Add the chicken breasts and sear on both sides for 3 to 4 minutes. Remove the chicken and set aside on a plate.

Add the diced yellow onion, green pepper, and red pepper to the pot. Sauté for 3 to 5 minutes, or until the onions are softened and slightly translucent.

Add the minced garlic and sauté for another minute until fragrant.

Return the chicken to the pot. Add the drained corn, rinsed black beans, undrained diced tomatoes, enchilada sauce, fajita seasoning, and chicken broth. Stir to combine.

Bring the soup to a simmer, then reduce heat to medium-low and cook for 15 to 20 minutes, allowing the flavors to meld.

Remove the chicken from the pot and shred it with two forks. Return the shredded chicken to the soup and turn off the heat.

Stir in the lime juice. Serve immediately, garnished with sliced green onions, shredded cheese, sour cream, hot sauce, cilantro, and lemon wedges as desired.