Resolving a raster image opening in Mapinfo Pro looking faded or washed out

Products affected: MapInfo Pro ™
Starting with MapInfo 17.0 release, Mapinfo Pro implemented supporting 32-bit color rendering (Alpha channel support) by default.

Due to this implementation, some raster files may appear washed out or faded when opened in MapInfo Pro.

To resolve this issue, the preference to "disable alpha channel" was added as an option in the Advance color pane as well as in the Raster preference.

To set this option, go to the Pro tab > select Options >then select Raster> Preferences >Display and place a check mark in the box to disable alpha channel.
Another way to disable the Alpha Channel without setting this as a default option would be to go to the Raster tab and select Advanced color and select the check box to disable alpha channel.
Advanced color

NOTE: The resolution to this issue for non-Advanced users is below. 

The "Disable alpha channel" option is not available for modifying directly from UI to non-advance MapInfo Pro users. 

However Users can modify it by editing the "MIRasterPreferences.xml" file stored in "%AppData%\Roaming\MapInfo\Raster\400". By default Alpha rendering xml tag (<AlphaRender>1</AlphaRender>) value is 1 (true). User can disable it by setting its value as 0. 
UPDATED:  December 12, 2018