Agreed. A major red flag is the omission of generics usage on their methods. Just using List or Collection without type parameters is just dangerous and very bad advice for a novice programmer seeking enlightenment for Java 8 programming.
It looks like the generics used to be there but have been removed. Because there is one generic type 'T' left in the implementation of ClassUtils.setIfNotNull.
So about this setIfNotNull: I don't understand why this method is used in updateEntity. To me it seems the accountType property in the dto can be set with whatever is in the entity, null or not null.
And of course, Java 8 has introduced the Optional class as a better way of dealing with null values, so why bother writing a workaround at all?
Unless you have a strong reason to use Java, I'd stay far out of it in learning FP. Pick a language where FP model fits well into the language core (e.g., ocaml, Haskell; google for other options), not glommed on as an afterthought to a general purpose language.