Melt butter in a large pot over medium heat. Add onions and bell pepper, sauté for 5 minutes.
Add garlic, corn, red chili flakes, paprika, parsley, and black pepper. Cook for another 2 minutes.
Add diced potatoes and chicken broth. Bring the mixture to a boil, then cover and reduce heat to simmer. Cook for 10-15 minutes.
Blend half of the soup until smooth, then stir it back into the pot.
Stir in heavy cream and cheddar cheese. Once the cheese has melted, add salt to taste.
Serve in bowls topped with more cheddar, crispy bacon, green onions, and fresh cracked pepper.