Malwarebytes can be used as a complimentary layer to your Antivirus, but not to replace. You can try and report back if or any conflicts (at your own risk), but are there any reasons in particular you wanted to couple Malwarebytes and Kaspersky?
No I just have a lifetime license key and wanted to know from you guys whether there would be any conflicts etc., should I just keep to KIS 2014 and remove Malwarebytes?
I'm using WSA along with MBAM Pro at this moment, I don't see any conflicts so far, but running two security program at the same time isn't recommended, microsoft also tell the same thing, so just try it, if you see any conflicts then probably you need to turn off both "real time protection" and "website protection" as well, there is no need to remove/uninstall MBAM (unless you have a problem with it of course) if you have a license for MBAM you can use it at least for "auto update" feature..besides..MBAM isn't an anti virus it's a malware removal
Used to run ESET NOD32 with MBAM Pro with no problems. However, as @Rahadian Putra said, it's best as an on-demand scanner, not as a realtime antivirus.
I would explore Kaspersky's full potential, Application Control, KSN etc. before considering adding multiple real-time layers. Plus you can save resources and start-up times if you scan any downloaded files with a second opinion scanner such as HitmanPro or Malwarebytes, before executing. While Kaspersky has your back.