yes it is possible to do,The process is called tanking you need a product called "synthapruf", or similar, its a waterproof paint that you seal the floors and wall with.You will need a minimum of 3 coats and a plaster coating to protect the walls once applied.
Synthaprufe is really for dpm's and is not suitable as a tanking membrane. You really need a more heavy duty system which has some resistance to water pressure such as RIW or aquaseal.
There are also ribbed board systems such a Newtonite lathing board. This is a plasterboard with a ribbed sheet behind which is coated with a damp proofing product.
There is a company called Sika which makes all types of waterproof membranes. Look them up on google and I'm sure they will have a product. They are also usually guaranteed for 20 years plus. However, Sika is the parent company, not sure what their basement tanking division is called.