Guarded ID and Rapport cannot operate together under their default configurations.
Essentially, Rapport gives the same anti-keylogging service as Guarded ID (and other services as well), so it is recommended to remove Guarded ID before installing Rapport.
If you wish to use the two anyway, you can disable part of Rapport's functionalities (after you complete its installation):
1) Open Rapport's Console (Start > Programs > Trusteer Rapport > Rapport Console)
2) Click on the "Right Arrow" Icon
3) Click on "Edit Policy" in the "Security Policy" widget
4) Type the required characters
5) Locate "Block Kernel Keylogging" and choose "Never" in the Drop-down list
6) Locate "Block Keylogging" and choose "Never" in the Drop-down list
7) Click on Save
8) Restart your PC
Restart your computer to complete the process.