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Error Description:
There are predefined values given or there are some limitations for the value of the element but the given value does not qualify.
The same error may also occur if there is no value given, in other words the element is empty.
Explanation of the error message given by validator:
Element '{urn:iso:std:iso:20022:tech:xsd:pain.001.001.02}elem1': '' is not a valid value of the atomic type '{urn:iso:std:iso:20022:tech:xsd:pain.001.001.02}predefinedValuesOrLimitations'.
Element elem1 is the element which has invalid value. Correct values are prefined or limited by predefinedValuesOrLimitations.